A Bollywood film producer has been arrested by Delhi Police for allegedly duping multiple businessmen on the pretext of getting them cheap loans.
The accused has been identified as 55-year-old Ajay Yadav, a resident of South Delhi. In the fresh case, Yadav allegedly duped Rahul Nath, a businessman from Delhi, of Rs 32 lakh on the promise of getting him a loan of Rs 65 cr.
Yadav has reportedly produced several movies including Love Phir Kabhi, Overtime, Bhadaas, Ranbanka, and Suspense.
“Yadav was earlier arrested by the Special Cell and Kandivali Unit of Mumbai Crime Branch. He was absconding since 2015 and was arrested after several raids in four states-Mumbai, Delhi, Madhya Pradesh and Uttar Pradesh. We finally managed to arrest him from Mathura. He invested the amount in making movies, but most of the films flopped and he suffered a huge loss, a report in Indian Express quoted Atul Kumar Thakur, DCP (south) as saying.
According to police, the accused claim to be the owner of a private finance company and promised the victim Rahul Nath a loan in a short time. Yadav would convince the victims by boasting about his connections in Bollywood.
The victim told police that he got in touch with Yadav after seeing an advertisement in the newspaper where he claimed himself as a Mumbai-based financial consultant.
DCP Thakur said Yadav promised Nath about providing Rs 65 cr loan at a rate of 10 per cent per annum for 10 years. For this, the accused asked the businessman to initially deposit Rs 32 lakh. After getting the money, Yadav then started avoiding Nath.