Hardik Pandya’s stepbrother arrested over fraud

The Mumbai Indians skipper, along with brother Krunal Pandya, was duped of Rs. 4.3 crore

By Web Desk
April 11, 2024
Hardik Pandya is leading Mumbai Indians in IPL 2024. — BCCI

Mumbai Police made a high-profile arrest of Vaibhav Pandya, the stepbrother of cricketers Hardik and Krunal Pandya, who allegedly cheated the two of approximately 4.3 crores in a business partnership.

As per the Economic Offences Wing (EOW) of the police department, the Pandya brothers set up a polymer business firm in 2021 and Vaibhav was given the responsibility to look after day-to-day operations as he was a partner in the business.

However, Vaibhav ended up breaching the terms of the agreement, keeping the two brothers in the dark, and setting up his own proprietorship firm in the same business in another person’s name.

The report from the police department further added that when Hardik and Krunal discovered their stepbrother’s fraud, one of them confronted him but he made further threads of “dire” consequences.

“Later, Vaibhav allegedly diverted money from the LLP (limited liability partnership) firm to his own firm. Gradually the profit in the partnership firm dropped," said an EOW officer.

"Besides, in excess to his due share Vaibhav also allegedly fraudulently increased his profit percentage in the LLP firm without letting the two brothers know. For this, he allegedly forged signatures of the Pandya brothers on an LLP agreement."

He was arrested on April 8 and was presented in front of the court, who then sent him to police custody till April 12.

Vaibhav has been charged with cheating, criminal breach of trust, forgery, criminal conspiracy and criminal intimidation, apart from other sections of the Indian Penal Code (IPC).

Remember, both brothers, Hardik and Krunal, are currently participating in the ongoing Indian Premier League (IPL) 2024. The former is leading one of the most successful franchises, Mumbai Indians, while the latter is having a super season with Lucknow Super Giants.