Mumbai : The Nashik Police have arrested Bhausaheb Chavan and his wife Aarti, who were been accused of duping hundreds of investors in the KBC scam. They was detained on Friday morning at the Mumbai airport by the police and then taken to Nasik.
The investors had been promised that their money would be doubled in a short period of time, the police said. It is believed that the scam is in the range of Rs 210 crore and Chavan had managed to escape to Singapore after getting anticipatory bail. It was while returning from there that the police managed to nab him at the airport.
Police sources said that thousands of investors had been promised that they would get higher returns on their investment. When the investors realized that they had been cheated, many of them made complaints at various police stations across the state. Even as Chavan has now been arrested in this case, the police have sealed all his assets and there is hope among the investors that their money will get returned to them.
