Cricketer Hardik Pandya's half-brother was arrested on Wednesday for defrauding the cricketer and his brother in business, reports Times of India. Hardik's half-brother Vaibhav Pandya (37) has swindled around INR 4.3 crore from a partnership firm in Mumbai. This caused a loss to Hardik and his brother Krunal, said officials of the Economic Offenses Wing of the Mumbai Police.
Vaibhav Pandya has been accused of cheating. He is accused of fraud and cheating. In 2021, the trio started a polymer business together. The terms of the partnership were that the cricketer and his brother would contribute 40% of the capital each while the half-brother would handle the day-to-day operations with 20 percent. Profits were to be shared equally. But Vaibhav started another firm in the same business without informing Hardik and his brother in violation of the partnership agreement.
Also Read: Mumbai: Two Businessmen Got Into Fight After 'Bigg Boss' Winner Munawar Farooqui Visits Shop
In the midst of all this, the parent partnership's profits declined, resulting in a reported loss of INR 3 crore. Vaibhav secretly increased his profit from 20 percent to 33.3 percent, causing huge losses to Hardik and his brother. Vaibhav took one crore rupees from the partnership firm's account and transferred lakhs of rupees to his own account. Vaibhav also threatened to defame their name if they opposed it.
Share
Tweet
