Mumbai News: 6th Accused In ₹4,672 Crore Dabba Trading Scam; Apprehended By Cops
Police reacted swiftly in nabbing the accused after receiving tip about the latter's location by laying down trap.
The Mumbai Police crime branch investigating the case of alleged 'dabba trading' on Tuesday arrested Upendra Babhubhai Kheni (50), from Naigaon, Palghar District, one more main accused. This is the sixth arrest in the case and the cops said they expect to take a few more into custody.
According to the police, on Tuesday, police received a tip-off about the accused's location. Police had laid the trap and apprehended the sixth accused.
Crime Branch arrested Jatin Mehta
On June 20, the crime branch arrested the main accused Jatin Mehta (45). Following this, on June 28, the cops caught three more accused, identified as Vijay Fads (28),Vijay Rathod (57) and Hire Makwana (46). On July 6, Dhiman Gandhi (33), was arrested from Mahavir Nagar, Kandivali West.
This scam involved a turnover of nearly ₹4,672 crore, causing a revenue loss for the government.
Dabba trading scam
Despite operating without a license, the accused were involved in trading activities through the 'MOODY' application. Dabba trading refers to share trading conducted outside authorized stock exchanges in order to evade tax payments.
Jatin Mehta was the first accused apprehended in his case. The accused traded through an app called Moody and the money earned was accounted for every Thursday. Jatin Mehta worked as coordinators and brought in customers through word of mouth publicity. The costumes were told that trading through the app does not attract tax deductions.
The racked bust under the guidences of Vinayak Chavan, Police Inspector, Crime Branch Unit 11.
RECENT STORIES
-
Mother's Day 2024: List Of Ideal Gifts For Your Mom -
Who Was Jalebi Baba? Jailed Tantrik Who Raped & Made Obscene Videos Of Over 100 Women Dies In Hisar... -
Maharashtra Lok Sabha Elections 2024: BJP's Murlidhar Kisanrao Mohol Top 'Wealth Accumulator' Among... -
Boonie Bears: Guardian Code Review - A Goofy Romp Embracing Hope Amidst Loss -
FPJ Exclusive: From Title To Story Line, Here's Everything You Need To Know About Khushi Dubey,...