Mumbai Couple Arrested in Rs 6.71 Crore Import-Export Scam

A Mumbai couple was arrested for allegedly cheating investors of Rs 6.71 crore through a dubious import-export scheme. Arrested on a complaint from Hiren Shah, the accused are Siddharth Khushal Poladia and Tejal Poladia. Part of the money was reportedly claimed to be invested in drugs.

A couple in Mumbai has been apprehended for allegedly defrauding eight individuals of Rs 6.71 crore with the promise of high returns through an import-export scheme, according to the Mumbai police.

Identified as Siddharth Khushal Poladia and his wife Tejal Poladia, the pair's arrest stemmed from a complaint by Borivali resident Hiren Shah, a clothes trader. Victims also include Chirag Shah, Sachin Shah, Minesh Shah, Santosh Shukla, Nilesh Pandey, Hardik Lapasia, and Kartik Lapasia.

Hiren Shah initially invested Rs 5 lakh, and following monthly returns, he invested Rs 1.4 crore. The total defrauded amount reached Rs 6.71 crore. The couple claimed the money was invested in drugs when questioned about the missing returns last August. The police are continuing their investigation.

(With inputs from agencies.)