Mumbai Police Nab Key Suspect in MHADA Fraud Scheme

Mumbai police have arrested Prabhakar Shetty, a key suspect in a Rs 17.74 crore fraud case involving fake MHADA flat promises. Shetty was arrested in Karnataka and is linked to a larger scam that deceived investors. The investigation revealed fake government documents used in the scheme.

The Mumbai police have apprehended a central figure in a significant fraud case amounting to Rs 17.74 crore. The case involves promises of MHADA flats which ultimately did not materialize for numerous investors. This arrest marks a crucial development as authorities track the fraudulent operations that have victimized many.

Prabhakar Shetty, identified as a pivotal suspect, was captured in Karnataka's Udupi district by the city's Economic Offences Wing. Officials describe Shetty as a close associate of the case's alleged mastermind, deepening the investigation's complexities as more details come to light about their operations.

Upon his capture, Shetty was presented in a local court and remanded to police custody. The scheme purportedly involved forged documents and misrepresented identities, with Shetty's involvement primarily in managing and distributing collected resources from unsuspecting investors eager for housing opportunities.

(With inputs from agencies.)