2 yrs later, duo behind bars again | mumbai | Hindustan Times
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2 yrs later, duo behind bars again

mumbai Updated: Jun 03, 2015 01:02 IST
HT Correspondent

This is not the first time Madras Cafe actor Leena Maria Paul and her live-in partner Shekhar Chandrashekar have been arrested. In May 2013, the two ended up behind bars after cheating a bank in Chennai of Rs19 crore. Paul was arrested from a farmhouse in south Delhi. At the time, the police had seized nine luxury cars, including a Rolls Royce, Land Cruiser, Land Rover, BMW, and 81 high-end watches from the couple.

“The two left Chennai and relocated to Mumbai. Here they floated a money-circulating scam to make a quick buck,” said Dhananjay Kamlakar, joint commissioner of police, economic offences wing (EOW).

EOW officials said Chandrashekar and Paul ran a bogus firm, Lion Oak India, at Andheri (West) and accepted cash deposits for various fake schemes — Lucky Number 5, Special Harvest Week, Super Harvest Plus, among others. They cheated nearly 1,000 Mumbaiites of Rs10 crore.

“Chandrashekar met Adil Jaipuri, grandson of lyricist Hasrat Jaipuri, at a gym. Impressed by Chandrashekar’s quick money-making scheme, Adil, who worked as a personal trainer, took on the job of bringing in more clients,” said Dinesh Joshi, senior inspector, EOW, adding that Chandrashekar claimed to be the managing director of the firm.

Adil got his father Akhtar and a relative, Nasir Mumtaj Jaipuri, involved in the business. The accused then started operating a fly-by-night firm in Andheri (West), the police said

According to EOW officials, the accused would promise investors nearly 300% returns of their investment, with 20% of it being paid each month.

During a recent raid at Hasrat Jaipuri’s Ghazal Villa, where his son Akhtar and grandson live, the police recovered 131 investment certificates and handwritten manuscripts of calculations.

At least 274 investment receipts and agreements were recovered in a subsequent raid at Nasir’s Mira Road house. “To make the scheme look genuine, Chandrashekar would give his customers signed certificates. In a few cases, he also notarised the agreements. We have recovered nearly 1,000 such certificates from the accused,” said Jagdish Kulkarni, inspector, EOW.