Mumbai Crime: Police Arrest 50-Yr-Old Share Market Fraud Accused Absconding For 21 Years From Mira Road

Mumbai: In a major breakthrough, the N. M. Joshi Marg Police have arrested a share fraud accused who had been absconding for over 21 years. The arrested accused has been identified as Santosh Hirachand Jain (50), a resident of Ratlam, Madhya Pradesh. He was nabbed from the Mira Road area near Mumbai.

Police Team Behind Operation

The operation was carried out by a team led by Assistant Police Inspector Somnath Deshmane. The case, originally registered in 2004, involves serious charges of theft, fraud, forgery, and criminal conspiracy under Sections of the Indian Penal Code (IPC).

Charges Filed Under IPC

The case was registered under sections 379 (theft), 465 (forgery), 467 (Forgery of valuable security, will, or authority to make/transfer valuable property), 468 ( Forgery for the purpose of cheating), 469 (Forgery intended to harm reputation), 471(Using a forged document as genuine), 420 (Cheating and dishonestly inducing delivery of property),120B (Criminal conspiracy) and 34 (Acts done by several persons in furtherance of common intention) of the IPC against accused Santosh Hirachand Jain (50), a businessman from Tejanagar, near Jain Mandir, Ratlam, Madhya Pradesh. According to Police, Jain had been absconding since the registration of the case.

Accused Tracked Through Intelligence

Police had recently revived the hunt for Jain. By scrutinizing old records and gathering intelligence from relatives and acquaintances, investigators learned that Jain would occasionally visit Mira Road for business purposes.

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Accused Confesses After Interrogation

Acting on this tip-off, police set a trap and successfully apprehended him. Upon interrogation, it was confirmed that he was indeed the wanted accused, following which he was formally placed under arrest.

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