He bought a villa in Goa, had eight flats in Delhi, owned a fleet of high-end cars, moved around with bodyguards and discarded mobile phones and other expensive gadgets after using them a few times.
Ulhas Prabhakar Khaire, who has been arrested along with his wife Raksha J. Urs by the Economic Offences Wing of the Delhi Police, maintained a lavish lifestyle with the embezzled money, the police said.
Prabhakar and Raksha -- involved in several cases of cheating, forgery and fraud registered in Delhi, Uttarakhand, Himachal Pradesh, Rajasthan, Madhya Pradesh, Sikkim, and Maharashtra -- had a total of 94 bank accounts in 20 different banks.
“All these bank accounts, other fixed deposits and share investments have been identified and frozen,” said a senior police officer. The police claim to have traced and seized assets, cash and bank drafts worth Rs.63 crore from the duo so far.
Prabhakar, who is from Nagpur in Maharashtra, left studies after Class XI and started a construction business in a partnership. A case of forgery cases were registered against him in Nagpur in which he was declared a proclaimed offender. He left Nagpur in 2004 and has never gone back.
“He fled to Pune in 2004 and worked at a call centre for a few months. In 2005, he came to Bangalore and started working for a finance company. There he met and married Raksha Urs who was from Mysore,” said Economic Offenses Wing Joint Commissioner of Police Sandeep Goel.
After marriage the couple left Bangalore and moved to Lucknow where they started living under the names of Rohit Khatri and Kanchan Khatri. In 2006, they went to Ahmedabad as Dr. Raj Zaveri and Dr. Priya Zaveri and later on to Bhubaneswar first and then Raipur.
“They used to assume a fake identity and address and then had credit cards issued from various banks. After withdrawing money and making purchases they used to move to another city and assume another identity,” said Mr. Goel.
The banks, however, found about the credit card frauds and stopped issuing new cards.
In 2009, the couple moved to Dehra Dun as Dr. Rakesh Kumar Maheshwari and Dr. Prachi Maheshwari and opened an Institute of Psychotherapy and Counselling where they were to provide training to candidates.
“They collected huge sums as course fee. The candidates were also asked to submit documents such as property papers, mobile phone bills, copy of marksheet of Class XII. Prabhakar later used the above mentioned documents of one such candidate, Lokeshwar Dev, to get a passport and other identity proofs,” said Mr. Goel.
Lokeshwar Dev was the identity that Prabhakar used when he formed the Stocks Guru India company. The couple have three daughters.