IANS | 07 Jul, 2023
The fifth accused involved in the infamous multi-crore ‘Dabba
trading’ scam that was exposed in June has been arrested, Mumbai Police
officials said on Friday.
The accused – identified as Dhimant K. Gandhi, 34 – is considered the mastermind behind the scam.
Nabbed from Kandivali, he was sent to a day’s police custody by a local court.
A
Mumbai Police official said that Gandhi runs a computer spares shop who
used to provide the login details and passwords to his co-accused Jatin
Mehta, who, in turn, passed them onto others involved.
The
illegal racket was laid bare last month when Gandhi and others allegedly
engaged in illegal share trading activities worth over Rs 4,600 crore.
This has caused an estimated loss of over two crore rupees to the
government by way of capital gains tax, security transactions taxes,
stamp duty, SEBI and stock exchanges fees and dues, etc.
Earlier
in June, the police had nabbed three sub-brokers Vijay Gada, Hiten
Makwana and Vijay Gala from Kandivali and other places. During their
interrogation, the three accused revealed how they were using a mobile
App called ‘Moody’ for conducting the illegal share-trading activities,
bypassing the stock exchanges, between March-June this year.
Police hint at more arrests from Mumbai and other places as the probe continues further.
