August 13, 2021 1:41:11 pm
A 32-year-old businessman, who once invested more than 4 million dollars to arrange pop star Justin Beiber’s concert in India, was arrested on August 6 by Delhi Police’s Economic Offences Wing for allegedly cheating a man of Rs 5 crore. His associate was also arrested in the case. According to the businessman’s lawyer, his client had already reached a settlement with the complainant and was “inexplicably arrested” when he presented himself at the Economic Offences Wing, Mandir Marg. The two men were released on bail on August 9 when a Delhi court dismissed an application moved by the Delhi Police seeking 14-day judicial custody.
Police said the accused allegedly duped the man by telling him that he is organising a music event in India with Justin Bieber and the US company William Morris Endeavour and promised over 50% returns on the investment. However, no such event took place.
The accused, Arjun Jain, is the managing director of Whitefox India and had arranged the Indian leg of Bieber’s ‘Purpose Tour’ in 2017. According to reports, Jain had invested over 4 million dollars (Rs 26 crore) for the concert, a large chunk of which was Bieber’s fees. The pop star had performed at Mumbai’s DY Patil Stadium in May 2017.
The Delhi Police said Jain and his associate Aman Kumar had been arrested in a case of criminal breach of trust, cheating and criminal conspiracy.
Police had received a complaint from a man named Akshay Aggarwal, who alleged that Jain and Kumar “induced him” to invest in their firm called Vamos Entertainment for organising music events.
Aggarwal had lodged a complaint after the accused allegedly did not pay his Rs 5 crore back despite not organising any such event, police said.
R K Singh, Additional Commissioner of Police (EOW), said, “We noted Aggarwal’s complaint and found that the accused had taken the money for their company, but had diverted it to their personal bank accounts and never returned the money.”
Jain’s lawyer, meanwhile, said his client and Kumar had already settled their disputes with Aggarwal, and had also tendered a letter indicating this to the investigating officer on August 5. His lawyer further said that Jain and Kumar had joined the investigation and had attended the EOW office on August 6 to place before investigators the factum of settlement. The Ld Metropolitan Magistrate observed that “Keeping in view the facts and circumstances of the case, and the settled principle that the bail is the rule and jail is the exception and the offenses in the FIR are punishable with imprisonment up to 07 years, no fruitful purpose would be served by keeping the accused persons in custody”. Therefore the accused were admitted to bail upon furnishing bail bonds in the sum of Rs 5,00,000/- each with one surety of like amount, subject to terms.
Corrigendum (updated 10 14/8): An earlier version of this report, based on information provided by the police, incorrectly mentioned that Jain and his associate Kumar had been sent to judicial custody. The two men were, in fact, granted bail on August 9. The report has also been updated to reflect the accused’s contention that a settlement had been reached with the complainant and bail had been granted. The error is regretted.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.