Hardik Pandya’s Stepbrother Vaibhav Pandya Arrested for Rs 4.25 Cr Fraud

Vaibhav Pandya, the stepbrother of Indian cricketers Hardik and Krunal Pandya, who were defraud of around Rs 4.25 crore, has taken into custody by the Mumbai police. Vaibhav was overseeing the day-to-day activities of the polymer business enterprise that the Pandya brothers and Vaibhav establish in 2021, according to the police department’s Economic Offences Wing (EOW).

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According to the officials, he broke the conditions of the arrangement by secretly forming his own proprietorship firm in the same industry under a different name while still keeping the two brothers in the dark.

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EOW Officer: Vaibhav Allegedly Diverted Funds, Forged Signatures

Subsequently, Vaibhav is accuse of transferring funds to his own company from the limited liability partnership (LLP) organisation. The joint firm’s profit steadily decreased. Furthermore, it is said that Vaibhav deceitfully elevate his profit percentage in the LLP firm beyond what was fair without disclosing this to his two brothers. He purportedly confront the Panda brothers’ falsified signatures on an LLP agreement to do this, according to an EOW officer.

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Mumbai Indians Captain Confronted Vaibhav; More Arrests Expected

The Mumbai Indians captain and Krunal Pandya found out about this, and one of them went up to Vaibhav. Vaibhav then warned him with serious repercussions, the officer continued. He was detaine by the Mumbai police’s EOW on April 8 and brought before a judge, who ordered him to remain in police custody until April 12.

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According to an officer, the investigators believe there were further people helping him commit the crime, and they plan to make more arrests after their involvement in the case is determine.

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