Goregaon couple in multi-crore cheating case arrested from Surat Hotel

Mumbai police arrest a couple accused of planning a multi-crore cheating scheme. Former MLA Krishna Hegde is among 166 investors who collectively filed complaints alleging a total fraud amount of ₹85.17 crore. The couple was arrested from a luxury hotel in Surat. The fraud's estimated magnitude may surpass ₹1,000 crore.

Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police apprehended a Goregaon-based couple, Ashesh Mehta, 41, and Shivangi Mehta, 34, accused of planning a multi-crore cheating scheme. The couple, on the run since June, was arrested from a luxury hotel in Surat. Former MLA Krishna Hegde is among the 166 investors who have collectively filed complaints, alleging a total fraud amount of ₹85.17 crore.

Goregaon couple in multi-crore cheating case arrested from Surat Hotel

The case, initially registered by Amboli police in June, involved allegations of cheating and common intention under sections 420 and 34 of the Indian Penal Code. Subsequently, the case was transferred to the EOW in August as the magnitude of the fraud increased.

“They have been booked under sections 420 (cheating) and 34 (common intention) of the Indian Penal Code and under sections 3 (fraudulent default by financial establishment) and section 4 (attachment of properties on default of return of deposits) of the Maharashtra Protection of Interest of Depositors Act, 1999 (MPID),” said the police officer

Investors were reportedly lured through Bliss Consultants, a stockbroking firm operated by the accused. Investors were enticed to invest in Bombay Stock Exchange-listed companies using the DIFM application. The couple charged a 30% brokerage fee on profits and promised investors an additional 2.5% monthly earning on their investments through the DIFM trading app.

The police, who arrested the couple on Friday night, presented them in court on Saturday, securing custody until January 4 for further interrogation. With over 6,000 investors potentially affected, the fraud’s estimated magnitude may surpass ₹1,000 crore.