A 50-year-old Gujarat-based restaurateur was arrested for allegedly duping a Delhi resident of Rs.5 crore by posing as trustee of a prominent religious foundation, the police said on Friday.
The accused has been identified as Sanjay M. Bachchan, who runs a posh restaurant in Vadodara. He has two wives besides a taste for expensive cars, said Deputy Commissioner of Police (Economic Offences Wing) Mangesh Kashyap.
“According to Kailash Colony resident S.K Rastogi, he was in need of loan and was approached by Jai Prakash Gupta. He arranged for Mr. Rastogi’s meeting with Rajesh Gupta, later identified as Bachchan, in Vadodara. The accused promised him a loan of Rs.150 crore,” said Mr. Kashyap.
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Bachchan then promised the loan at a commission of Rs.5 crore. However, Mr. Rastogi failed to receive the said loan despite paying the commission amount. His repeated requests for returning the same were also not honoured.
“On April 29, an EOW team was sent to Vadodara and Bachchan was held. The accused was found to have been declared a proclaimed offender by a city court on March 31. Interrogation post arrest revealed that he was living a lavish life in Vadodara. He even ran an upscale restaurant named Appetite,” Mr. Kashyap added.