Hardik Pandya’s brother breaks silence on fraud worth crores of rupees

IPL 2024: Mumbai Police on Thursday Hardik Pandya brother of Vaibhav Pandya (Step Brother) arrested in a fraud case. Vaibhav has been accused of defrauding Hardik and his brother Krunal Pandya of crores of rupees. According to the police, action has been taken against Hardik and Krunal only on their complaint. Vaibhav is accused of fraud of more than Rs 4 crore. Vaibhav told a Mumbai court on Friday that the entire matter was a family matter and was just a misunderstanding. Vaibhav Pandya (37 years) gave this argument through his lawyer during the remand hearing. His police custody was extended till 16 April. He was detained by the Economic Offenses Wing (EOW) of Mumbai Police on Monday on charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery and other related sections.

IPL 2024: Police asked for remand

After his preliminary police remand ended on Friday, he was produced before Additional Chief Metropolitan Magistrate (Esplanade Court) LS Padhen. During the hearing, Vaibhav’s lawyer Niranjan Mundargi told the court that it was a family matter and the case has been filed due to a misunderstanding. It was also said in the court that every effort is being made to resolve the matter, and it is hoped that it will be resolved. No statement has come out yet from Hardik Pandya or Krunal Pandya on this.

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IPL 2024: Vaibhav’s lawyer gave this argument

Vaibhav’s lawyer said that his client is cooperating in the investigation and he has no objection to the remand extension sought by the police. The EOW had sought further remand of seven days claiming that the investigation has not been completed and important information has not been received from the accused yet. After hearing the arguments of both the parties, the magistrate said that the investigating agency has shown progress in the investigation and it needs more time to interrogate the accused. There are many financial aspects involved in the matter.

IPL 2024: Case of fraud of around Rs 4 crore

According to the police, Vaibhav along with Hardik and Krunal started a business in 2021. According to the deal, Hardik and Krunal’s share in profit or loss was 40-40 percent, while Vaibhav’s share was 20 percent. It was said that Vaibhav formed a separate company and invested the profit money in it without the knowledge of Hardik and Krunal. In such a situation, Hardik and Krunal suffered a loss of about Rs 4 crore. Vaibhav’s own profits increased by 20-33 percent.