Maha: Man accused in cheating case nabbed after 12 years

The economic offences wing EOW of the police has arrested a man who had been on the run for 12 years after allegedly cheating investors of over Rs 7.6 crore in Maharashtras Thane district, an official said on Thursday.

The economic offences wing (EOW) of the police has arrested a man who had been on the run for 12 years after allegedly cheating investors of over Rs 7.6 crore in Maharashtra's Thane district, an official said on Thursday. Based on a tip-off, Sandeep Zhumbarlal Pokhrana was apprehended from Pune on Monday, the official said. Pokhrana had allegedly cheated 13,900 persons by wooing them to invest in his firm and promising them lucrative returns. He operated a financially unviable scheme at his firm and published about the same in the social media and through publications, he said.

Investors were cheated to the tune of Rs 7.64 crore and an offence under relevant provisions of the IPC, RBI Act, Prize and Chit Fund Money Circulation Scheme (Banning) Act, MPID Act, had been registered with the Mahatma Phule police station in 2010, the official said.

The accused had been on the run for 12 years, he said, adding that further probe is underway.