MeraNews Network, Ahmedabad: Bhargavi Shah, the wife of Ponzi scam accused Vinay Shah was arrested and presented in a court by the CID Crime on Friday and was sent to six-days police custody. Bhargavi had on Thursday surrendered herself to the CID Crime, about a fortnight after her absconding husband Vinay Shah was arrested in Nepal.
The CID Crime had asked the court for a 14-day remand as they needed to interrogate her extensively regarding their financial dealings like actual investments received by them, where did they move the money and how, and the number of people involved with them. The investigators also presented several documents to support their claim. The court granted them Bhargavi’s police remand for 6 days.
Vinay and Bhargavi Shah had scammed thousands of investors to the tune of Rs 260 crores through their company ArcherCare LLP by promising them more than double returns for their investments in their schemes. The couple had paid handsome returns to some of their investors in order to win their trust. They would also host gala events at five-star hotels and gift them all expenses paid trips to coerce them to bring in more members to their fold.
Vinay Shah and one of his aides was arrested by Nepal Police last month in a case pertaining to foreign exchange and are currently in the custody of Nepal’s revenue department. The Gujarat Police has apprised the Nepal Police about the complaints filed against Shah and the ongoing investigation by a special investigation team of the CID Crime. They are working towards Shah’s extradition to India to make him face the law.