MI captain Hardik Pandya's half-brother arrested, how did Mumbai police crack the multi-crore fraud case
Mumbai Indians captain Hardik Pandya and his brother Krinal Pandya along with step brother Vaibhav cheated Rs 4.3 crore. Mumbai Police has arrested Vaibhav Pandya on the charge of cheating the cricketer. Vaibhav Pandya violated the partnership agreement due to which he was arrested. The Pandya brothers are currently busy with the IPL.
Sports Desk, New Delhi. Mumbai Police has arrested Vaibhav Pandya, half-brother of Indian cricketers Hardik and Krunal Pandya. Vaibhav is alleged to have cheated about Rs 4.3 crore in a business partnership with Hardik-Krunal.
According to a Times of India report, 37-year-old Vaibhav is accused of embezzling around Rs 4.3 crore from a partnership firm. Due to this, Hardik-Krinal has suffered a lot of financial loss. The alleged wrongdoing includes misappropriation of funds and breach of partnership terms.
Vaibhav limes the Pandya brothers
According to the report three years ago three persons jointly set up a polymer business with specific conditions. The cricketer brothers were to invest 40 percent of the capital while Vaibhav was to contribute 20 percent and manage the day-to-day operations.
The profits were to be distributed according to these shares. However, Vaibhav allegedly set up another firm in the same business without informing his half-brothers and violated the partnership agreement.
Loss to Pandya brothers
The result was that the profits of the real partnership declined. About 3 crore rupees were damaged. It was also alleged that Vaibhav quietly increased his profit share from 20 percent to 33.3 percent, causing huge financial loss to Hardik and Krunal Pandya.
Mumbai Police’s Economic Offenses Wing has charged Vaibhav Pandya with fraud and forgery in connection with these transactions. The Pandya brothers have not made any public statement on this matter.
Pandya brothers busy in IPL
Hardik Pandya and Krunal Pandya are currently busy in IPL. Hardik Pandya is captaining Mumbai Indians while Krunal Pandya is representing Lucknow Supergiants.
