Ashesh Mehta and Shivangi Mehta of Bliss Consultants have been arrested
A couple is detained by Mumbai police on charges of organizing a multi-crore cheating scheme. The couple was taken into custody and caught in an opulent Surat hotel.
Ashesh Mehta, 41, and Shivangi Mehta, 34, of Goregaon were detained by the Mumbai Police’s Economic Offences Wing (EOW) on suspicion of organizing a multi-crore fraud scam. The couple was apprehended at a five-star Surat hotel after going on the run since June.
Who are Ashesh Mehta and Shivangi Mehta of Bliss Consultants arrested by Mumbai Police, biography, age and family
166 investors have collectively filed complaints, claiming a total fraud value of ₹85.17 crore, including former MLA Krishna Hegde. The estimated amount of the fraud might be more than ₹1,000 crore.
Shailesh Mehta, the father of fraud-accused Ashesh, was arrested in Punjab by the Sohana police in SAS Nagar district, popularly known as Mohali, on December 2 and the arrest was made after a 78-year-old businessman from Punjab, Viresh Singhal, accused Shailesh, Ashesh, and his wife Shivangi, of cheating him of Rs 1.20 crore by convincing him to invest in their company, ‘Bliss Consultant Trading Company’.
He alleged that on Shailesh’s assurances, he invested Rs 1.20 crore between 2021 and 2023 in ‘Bliss Consultant Trading Company’ and although Shailesh assured him of timely withdrawals, the businessman faced difficulties while attempting to retrieve his investment in June and July this year.
According to sources, Ashesh Mehta & his wife Shivani Mehta, Financial Influencer absconding for an over 1000 crore scam have been arrested. More details awaited.
This is a developing story and we are awaiting further confirmation on the same. No confirmation on the arrests as… pic.twitter.com/KnJYVbrrbl
— The RIGHT Indian (@TheRIGHTIndians) December 30, 2023
Bank account of Rs 160 crores frozen & FIR registered against Mumbai's Stockbroker couple Ashesh Mehta and Shivangi Lad Mehta | Ex MLA Hegde initiates FIR, succeeds in freezing Rs 160 crores of untraceable Mumbai couple who have disappeared with thousands of Crores. Hegde today… pic.twitter.com/eYRqtkcwvs
— MUMBAI NEWS (@Mumbaikhabar9) July 25, 2023
Official Police statement
According to sections 420 and 34 of the Indian Penal Code, there were charges of cheating and common intention in the case, which the Amboli police first reported in June. Due to the growing scope of the fraud, the case was then moved to the EOW in August.
The police officer stated that the couple had been booked under sections 3 (fraudulent default by financial establishment) and 4 (attachment of properties on default of return of deposits) of the Maharashtra Protection of Interest of Depositors Act, 1999 (MPID), as well as sections 420 (cheating) and 34 (common intention) of the Indian Penal Code.
How did the couple steal money from investors?
According to reports, the accused’s stockbroking company, Bliss Consultants, was utilized to entice investors. Using the DIFM program, investors were encouraged to put money into companies listed on the Bombay Stock Exchange. The couple promised clients an extra 2.5% monthly return on their money through the DIFM trading app in exchange for a 30% brokerage fee on earnings.
Hegde, a victim, brought attention to the couple’s legal troubles in Gujarat and Punjab as well as their involvement in a heroin trafficking scheme in Madhya Pradesh, even though they were ultimately cleared. Hegde affirmed the seizure of properties worth ₹165 crore and emphasized the necessity for a comprehensive probe.
The pair was taken into jail by the police on Friday night and was not allowed to leave until January 4th, when they appeared in court on Saturday. With more than 6,000 investors at risk, the fraud’s estimated value might be more than ₹1,000 crore.