Kidnapper, also a share broker, held for demanding that losses in recent downswing be covered by investor; accomplices absonding
A friend had introduced the complainant to the share broker saying he had good tips on the stock market
The Borivli police have arrested a share broker and are on the lookout for three of his accomplices for allegedly abducting and assaulting a 25-year-old stock trader on Thursday for a ransom of Rs 11 lakh. The accused allegedly told the complainant that he recently suffered huge losses on his behalf and had to recover the money to keep his trading account going.
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Police sources said the complainant, who refused to speak to mid-day, is a resident of Borivli. In November 2021, he and two friends started an investment company at Navkar Paradise, Babhai Naka. He told the police that a friend then introduced him to accused Akshat Churana saying he could give good market tips. The complainant and his partners then invested Rs 1.75 lakh through Churana.
The complainant was bundled into a car near Bhagwati Hotel at Satya Nagar at Borivali West. Representation pic
A few days ago, Churana called up the complainant saying he had suffered huge losses due to the recent upheaval in the stock market and the latter would need to pay up Rs 11 lakh to keep their trading account going. “When the complainant and his partners said they were not ready to invest more money, Churana began threatening him. On Thursday, he made death threats to the complainant,” said an officer from Borivli police station.
The three partners then decided to meet their acquaintance who had introduced them to Churana. At 7.15 pm, they reached the meeting place, Bhagwati Hotel at Satya Nagar in Borivli West. But Churana showed up and started demanding money from the complainant. He also assaulted him. When the complainant tried to resist, he was thrashed by Churana’s accomplices. The gang then bundled him into an i20 car and drove off but not before telling his partners that they would torture him if the money was not paid. As per the complainant, he was taken to a lawyer’s office opposite an SBI branch at Malwani. The gang forced the complainant to sign on a blank stamp paper that said he would be paying Rs 11 lakh to settle a business dispute.
At 10 pm, Churana took the complainant to Js Turf Cricket And Football Ground in IC Colony in Borivali and asked his partners to get the money there if they wanted to free their friend. That’s when the partners informed the complainant’s father, who wasted no time in calling the police. The cops and the complainant’s father reached the spot and nabbed Churana, while his accomplice escaped. “We have booked Churana and three others for abduction and assault,” said an officer from Borivli police station. Churana was produced in a court on Friday and was remanded in police custody till January 31.
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