Four victims of multi-crore scam abduct CA to recover lost money: Police arrest four individuals who kidnapped a chartered accountant in an attempt to recover money lost in a Ponzi scheme. The accountant had convinced acquaintances and relatives to invest in the fraudulent company. The kidnappers demanded a ransom of ₹5 crore ($710,000). Two of the accused were found with the victim after a five-day search, while the other two were apprehended separately. The four are now in police custody.
Strap: A police team arrests quartet after five days of search and rescues CA, who was attached to the fraud company
It was like a copy of the script from a highly rated crime show on television. From staking out their target’s house for days to keeping tabs on his daily schedule for a month, they did pull off an abduction and left no trail for police to swoop down on them.
However, the long arm of the law eventually caught up with them.
Last Wednesday, four white-collar job holders, who, in their last-ditch effort to recover the hard-earned money they had lost in a Ponzi scheme two years ago, kidnapped the only person they got their hands on – the charted accountant (CA), outside his office in Chandivali.
According to the police, Bhushan Arora was associated with the firm, the alleged perpetrator of the fraud. The quartet made three ransom calls to his wife Megha and demanded ₹5 crore in ransom.
“During investigation, we got to know that Arora had convinced many of his acquaintances and relatives into investing in Divine Power Group. All of them faced big losses in the stock market due to this. Even the person who made the ransom calls had told the family that he and his accomplices had lost money because of Arora,” said Datta Nalawade, deputy commissioner of police, zone 10.