07 May,2016 09:29 AM IST | | PTI
The Nashik police arrested Bhausaheb Chavan, alleged kingpin of the Rs 210-crore 'KBC scam', at the Mumbai international airport early morning on Friday
Nashik: The Nashik police arrested Bhausaheb Chavan, alleged kingpin of the Rs 210-crore 'KBC scam', at the Mumbai international airport early morning on Friday.
His wife Aarti was also arrested. Chavan, his wife and others are accused of duping 8,000 investors who had deposited money in the chit-fund schemes of his Nashik-based KBC Group.
He and his wife, facing cases of cheating under the IPC and under the Maharashtra Protection of Interest of Depositors (MPID) Act, had jumped the bail on June 19, 2014, and fled to Singapore, said Nashik police commissioner S Jagannathan here.
The case was transferred to the Economic Offences Wing from the CID upon the order of Aurangabad bench of Bombay High Court last week.
