Mumbai: The Crime Branch Unit 11 has arrested three more accused in the ₹4,672 crore dabba trading case. Dabba trading is a form of share trading outside authorised stock exchanges to avoid tax payments. Vijay Gada, 28, Vijay Rathod, 57, and Hitesh Makwana, 45, were arrested from Borivali and Kandivali.
Last week, the police had arrested Jatin Mehta, 45, a resident of Kandivali West. The accused allegedly made share transactions worth thousands of crores without licences to trade in shares and caused a revenue loss of ₹1.95 crore in the last four months alone.
The Unit 11 officials said the accused traded through an app called MOODY and the money earned was accounted for every Thursday. The persons arrested on Wednesday worked as coordinators and brought in customers through word of mouth publicity. The customers were told that trading through the app doesn’t attract any tax deductions. Jatin Mehta was the mastermind of the scam.