The Mumbai police arrested Vaibhav Pandya, who is Hardik Pandya's stepbrother, for reportedly tricking the cricketer and his brother Krunal out of about Rs 4.25 crore.
The Economic Offences Wing (EOW) stated that the Pandya brothers, along with Vaibhav, established a polymer business firm in 2021, with Vaibhav responsible for managing the day-to-day activities.
Vaibhav is accused of breaking the agreement between the brothers by secretly starting his own business in the same field, using someone else's name, without informing them.
Later, Vaibhav is said to have moved money from the joint business to his own. As a result, the profits in the original business decreased. Additionally, Vaibhav allegedly altered the profit distribution without informing the brothers, forging their signatures on legal documents," explained an officer involved in the investigation.
When the captain of Mumbai Indians and Krunal Pandya found out, one of them confronted Vaibhav, who then threatened them. Vaibhav faces charges of cheating, breach of trust, forgery, conspiracy, and intimidation, among others," the officer added.
Vaibhav was arrested by the EOW of Mumbai police on April 8 and appeared before a court, which remanded him in police custody until April 12.
Investigators suspect that others may have helped Vaibhav in the crime and are likely to make more arrests once their involvement is confirmed," said an officer.
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