Hardik Pandya’s Stepbrother Arrested by Mumbai Police for Alleged Cheating
The Mumbai Police has taken into custody Vaibhav Pandya, the stepbrother of cricketer Hardik Pandya. On charges of defrauding both Hardik and his brother Krunal Pandya. Of a staggering sum of Rs 4 crore in connection with a business venture. Vaibhav Pandya was apprehended by the Economic Offence Wing (EOW) of the Mumbai Police on March 10.
The allegations against Vaibhav Pandya stem from his involvement in a polymer company established in 2021. Where he held a 40 per cent stake, as did the Pandya brothers. The terms of their partnership dictated that each Pandya brother would contribute 40 per cent of the capital. While Vaibhav would contribute the remaining 20 per cent.
Hardik Pandya’s Stepbrother Arrested
However, it has been alleged that Vaibhav breached the terms of the agreement by channeling the profits of the business into the accounts of a separate entity, resulting in a substantial loss of Rs 4.3 crore to the cricketers.
Following a complaint lodged with the Mumbai Police, Vaibhav Pandya was apprehended. He was subsequently brought before the appropriate authorities and remanded to five days of police custody for further investigation into the matter.