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The head of Ahmedabad police's
crime branch, J K Bhatt, has filed a criminal defamation suit
against a person accused of syphoning off Rs 260 crore of
Accused Vinay Shah and his wife Bhargavi Shah have
become untraceable after two FIRs were registered against them
at Vastrapur police station in the last two days, a police
However, before closing their office in the city and
vanishing, Vinay Shah purportedly posted a `suicide letter' on
social media, claiming that he had paid Rs 86 lakh to Bhatt's
middleman as "protection money".
The middleman took the money in three instalments ten
months ago, Shah claimed.
Following the allegation, Bhatt, who is Special
Commissioner of Police, crime branch, filed a criminal
defamation suit against Shah, claiming that the allegations
were baseless and they tarnished his image.
In a statement, Bhatt said he filed the case in a
magistrate's court here Monday under IPC section 500
(defamation) and he will also file a civil defamation suit
demanding damages of Rs 20 crore from Shah.
Shah and his wife had cheated people by offering very
high returns on investment, he alleged.
According to Vastrapur police, Shah allegedly promised
to double the investment in just one year by floating a scheme
where the members had to click on online ads to get regular
"In his so-called suicide letter, Shah claimed that
his firms had a turnover of Rs 260 crore. So the fraud could
be to the tune of Rs 260 crore. Till now, two complainants
have come forward and claimed they lost Rs 1.04 lakh," said
police inspector M M Jadeja.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)