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Mumbai Crime Branch nabs accused who duped 500 investors of Rs 170 crore
Updated On: 13 August, 2024 08:51 PM IST | Mumbai | Faizan Khan
Manikkam Velayutham Udgair (40), a resident of Versova in Andheri, was arrested as part of the continuing investigation.
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The Mumbai Crime Branch`s Property Cell, which is investigating a Ponzi scam in which over 500 investors were duped of Rs 170 crores, arrested a key accused on Tuesday. Manikkam Velayutham Udgair (40), a resident of Versova in Andheri, was arrested as part of the continuing investigation.
In July, the authorities arrested Ashish Shah of Madhya Pradesh for impersonating a SEBI-registered agent. Shah promised victims great profits for investing their money in the stock market, only to scam them.
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