Daijiworld Media Network - Rajkot
Rajkot, Aug 25: Rajkot City Police in Gujarat have arrested a man from Indore in Madhya Pradesh for allegedly cheating a complainant and several investors of Rs 9.61 crore by promising high returns through a firm named 'Dwarkadhish Enterprise'.
The accused, identified as Hardik Tanna, was arrested by a team from Gandhigram-2 (University) Police Station in the Vijay Nagar area of Indore after police received information about his whereabouts through technical surveillance and confidential sources.
Police said the alleged fraud began in 2023. Tanna allegedly told the complainant and other investors that Dwarkadhish Enterprise was involved in swiping different debit cards and providing loans against them.
He allegedly persuaded them to invest money by promising attractive returns. Police said Tanna initially returned some money to investors as returns in order to gain their confidence.
After establishing their trust, he allegedly promised higher profits and collected further investments through bank accounts as well as in cash.
According to police, Tanna subsequently collected a total of Rs 9,61,91,492 from the complainant and various investors but failed to return the money.
He allegedly caused substantial financial losses to the investors, misappropriated the funds and fled Rajkot.
An offence was registered at Gandhigram-2 (University) Police Station on August 19 under Section 316(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 3 of the Gujarat Protection of Interests of Depositors (in Financial Establishments) Act, 2003.
Following registration of the case, Police Inspector K.K. Gohil directed Police Sub-Inspector R.R. Kothiya and his team to trace the accused.
Police said they received information that Tanna was in Indore, following which a team was dispatched to the city. He was subsequently arrested from the Vijay Nagar area.
During questioning, Tanna allegedly admitted to the offence. He was brought back to the police station and further legal proceedings were initiated.
Police said the operation was carried out under the direction of Rajkot City Police Commissioner Brajeshkumar Jha and Additional Police Commissioner Chaitanya Mandlik, with supervision and guidance from other senior officials.