Indore (Madhya Pradesh): An advisory firm owner, who was on the run for 4 years after duping people on the pretext of investment, was arrested by Indore's Vijay Nagar Police station team, as reported on Saturday.
The accused was also carrying a bounty of Rs 5000.
Vijay Nagar police station in-charge Chandrakant Patel informed that based on a complaint by Anand B. Mohalkar, a case was registered against the director of advisory firm in March 2021.
The company had lured the complainant with promises of doubling his money by investing it in the share market. The funds were deposited into the advisory company’s account, but the company failed to return the money, committing fraud.
Since the date of the incident, the operator of the advisory company had been absconding. A case was registered against Sanjay Balani, the company’s director and a resident of Scheme Number 103, Kesarbagh area of the city.
The then Superintendent of Police had announced a cash reward of Rs 5000 for information leading to the arrest of Balani. Acting on this, the Vijay Nagar police team arrested Balani from near Shaheed Park by cordoning off the area. The accused is being questioned in connection with the crime.
