Hardik Pandya duped of INR 4.3 crore, stepbrother Vaibhav Pandya arrested for cheating MI captain: Report
Vaibhav Pandya, the stepbrother of cricket players Hardik and Krunal Pandya, has been arrested by Mumbai police in a high-profile case. It is claimed that Pandya defrauded the cricketers of over ₹4.3 crore in a business deal.
Vaibhav has been charged with cheating and forgery, TOI reported quoting officials of the Economic Offences Wing of the Mumbai Police.
The three brothers reportedly founded a polymer company in 2021. According to the terms of the deal, Vaibhav contributed 20% of the capital, while Hardik and Krunal contributed 40% apiece.
But Vaibhav eventually broke the agreement by opening up another business that engaged in the same trade without telling the Pandya brothers.
As a result, profits from the original partnership declined, leading to an estimated loss of ₹3 crore. Additionally, it is alleged that Vaibhav secretly increased his own profit share from 20% to 33.3%, further impacting the financial interests of Hardik and Krunal Pandya.
The Economic Offences Wing of the Mumbai police has charged Vaibhav Pandya with cheating and forgery in connection with these actions.
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