Bollywood film producer held for duping Delhi businessman of Rs 32 lakh

The Delhi police have arrested Ajay Yadav, a Bollywood film producer, from South Delhi for allegedly duping several businessmen on the pretext of getting them sanctioned loans on low interest. In the current case, he allegedly cheated a Delhi businessman of Rs 32 lakh on the pretext of getting him a loan of Rs 65 crore.

The 55-year-old accused is a producer of six Bollywood movies – Overtime, Bhadaas, Love Phir Kabhi, Ranbanka, Suspense & Sakshi.

“Yadav was earlier arrested by the Special Cell and Kandivali Unit of Mumbai Crime Branch. He was absconding since 2015 and was arrested after several raids in four states – Mumbai, Delhi, Madhya Pradesh, and Uttar Pradesh. We finally managed to arrest him from Mathura. He invested the amount in making movies, but most of the films flopped and he suffered a huge loss,” DCP (south) Atul Kumar Thakur said.

Yadav, the police said, had claimed to be the owner of a private finance company and offered to provide the complainant a loan within a few weeks. “He would win the confidence of businessmen in need of loans by boasting his connections with film personalities and claiming to be a top film producer,” police said.

Thakur said the complainant Rahul Nath informed that he approached the accused after seeing an advertisement in a newspaper and he introduced him as a director of a Mumbai-based financial consultant. “Nath wanted a loan of Rs 65 crore for ten years and he assured him to provide it at 10% per annum interest rate. Yadav asked him to deposit Rs 32 lakh as advance payment and started avoiding the complainant,” he said.

Thakur said the accused was staying in rented accommodation and duping people after changing his identity. “He has also procured several phone numbers on fake IDs and duped several businessmen on the pretext of getting loans in crores on cheap interest rates from fake financial companies with different fake names,” he added.