Shailesh Mehta, the father of Ashesh Mehta, who is wanted in a mega ponzi scheme scam, has been arrested by the Punjab police. The arrest was made after a businessman from Punjab, Viresh Singhal (78), accused Shailesh, Ashesh, and the latter's wife Shivangi, of allegedly cheating him of Rs 1.20 crore by convincing him to invest in their company, Bliss Consultant Trading Company.
Ashesh and Shivangi are allegedly absconding, according to ex-MLA and spokesperson of the Shiv Sena (UBT) Krishna Hegde, who has filed a complaint against them.
Background of the case
Singhal and his family invested their hard-earned money into the company, which the Mehtas claimed was registered with the Securities and Exchange Board of India (SEBI).
They provided a withdrawal code which could be used through their app, DIFM, to get a refund within 48 hours.
However, the app did not respond when Singhal tried to get his refund in June and July. He then realised that the company was not registered with SEBI and approached the Punjab police.
Cops nab accused from old age home
The Punjab police tracked down Shailesh and his wife at an old age home in Ahmedabad where Ashesh used to visit them. The old couple were placed under arrest and taken to Sohna in Punjab.
Meanwhile, Ashesh and Shivangi continue to elude the police. Mr Hegde has urged the economic offences wing to intensify their search for the wanted accused.