Mumbai Crime: Master fraudster enjoys lavish transit by bribing Police team

Master conman Shekhar Chandrashekhar has been lodged in Tihar Jail, and yet, he has managed to make a mockery of our legal system. After promising courts of repaying the Rs 20 crore he swindled from 500 investors, he bought an expensive watch, luxury cars and stayed in five-star hotels during a recent week-long transit tour, simply by bribing his seven-member Delhi Police escort team, which was chaperoning him to Mumbai, Coimbatore and Bengaluru to attend court dates.

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Shekhar Chandrashekhar

All seven members of the Delhi Police escort team ferrying Chandrashekhar between October 9 and 15 were dismissed from service a couple of days ago. Sources said the '30 lakh watch and two of the three high-end cars Chandrashekhar bought were seized from him along with '30 lakh cash.

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Director General, Income Tax Department (investigation), Bengaluru, Bala Krishnan told mid-day, "For all these purchases, he paid by cash, which he arranged for with the help of his aides. We have informed the Delhi Police in detail about his wrongdoings when being escorted by their men."

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"After I-T department's tip-off, the Delhi Police swung into action and suspended the seven policemen of the escort party. A high-level inquiry found that all had indulged in misconduct to favour Shekhar, guilty of all charges levelled against them. They were dismissed from service under Article 311(2)(b) of the Constitution of India," said Deputy Commissioner of Police, Delhi Police, D K Singh.

Also read: Master conman, who cheated 500 Mumbaikars of Rs 19 crore, set free

The trail of crime
In 2014, Chandrashekhar floated a ponzi scheme in Mumbai and duped nearly 500 of '20 crore. In June 2015, he was arrested by the Mumbai Economic Offences Wing. He gave numerous assurances to the MPID court, Bombay High Court and even the Supreme Court of repaying his investors. He, however, failed to deposit '19.5 crore for the same as per his undertaking in Supreme Court for bail. Subsequently, on December 16, 2016, his bail was cancelled.

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The Delhi Police arrested him for acting as a middleman and trying to influence senior Election Commission officials to allow T V V Dhinakaran to grab the party's two-leaves symbol for his faction in AIADMK.

Victims outraged
The people he duped in Mumbai were shocked on coming to know of his latest antics while being taken from city to city for court hearings.

Also read: SC orders Ponzi scheme operator to return Rs 19 crore to investors in four months

Expressing his anger, Hashim Khan, who is said to have lost '1.75 crore to Chandrashekhar, said, "He cheats everyone he meets. He has no intention of returning the money to his victims." Another victim, Aditya A from Bengaluru, said, "Shekhar is the biggest fraudster of all time. He will keep making a mockery of the legal system by claiming in court that he will return the money, but he won't." A Mumbai Police officer, who investigated Chandrashekhar's case, said he could cheat anyone with his web of lies.

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