Unit 07 of the Mumbai Crime Branch on Tuesday arrested a businessman for allegedly duping thousands of Indians to the tune of Rs 684 crore. The accused was arrested from a five-star hotel at Nariman Point after a tip-off. Interestingly, sources said, when a CB team went to arrest him, he offered them a bribe of Rs 50 lakh to let him go.

The accused, identified as Nandlal Kesar Singh, has cases of various ponzi schemes registered against him in Maharashtra, Kerala, Gujarat and Karnataka. According to the Mumbai Crime Branch, Deputy Commissioner of Police Datta Nalawade, Senior PI Manish Shridhankar and API Amog Olekar received information about Singh and a trap was laid at the hotel. The Crime Branch also found that there is an look out circular (LOC) issued against Singh by Kerala police in connection with a Rs 120 crore healthcare ponzi scheme. Singh is also the chairman of the Phenomenal group of companies.