Makarand Kulkarni, the brother of Pune based developer DS Kulkarni and one of the accused in the case of cheating of thousands of investors of DSK Group for over Rs 2000 crore, was detained at Mumbai airport on Tuesday morning, while allegedly trying to flee the country, Pune police said. Police had issued a Lookout Circular for Makarand, who was on the run after his anticipatory bail application was rejected. Makarand will be put on arrest, officials said.
In 2017, following a complaint lodged by a depositor, an FIR was lodged against DS Kulkarni also known as DSK, his wife Hemanti and others. At present 15 persons stand named in the offence. 10 were arrested at various points since and have also been chargesheeted. Of the 10 chargesheeted, eight persons including DSK and Hemanti are currently lodged in Yerawada central jail in Pune.
Deputy commissioner of police (Cyber Crime and Economic Offences) with Pune police, Sambhaji Kadam said, “Because of the Look our Circular issued against Makarand Kulkarni, he was detained at Mumbai airport by the airport staff on Tuesday morning. Our team has been dispatched to put him under arrest and he will be produced before the court in Pune. He is one of the named accused in the case.”
The Economic Offences Wing (EOW) of the Pune police has investigated into two types of schemes, through which the DSK group had taken money from the investors and is alleged to have cheated them. One was that of the fixed deposits, in which money was taken from the depositors and in return they were assured of monthly, quarterly or cumulative returns and also the principal amount after the maturity period.
The other scheme was known as Aadhi Ghar, Nantar Paise (First get the house, then pay the money) under which initially a certain chunk of the total value of the flats was taken from customers and the group then promised to pay the EMIs on the bank loans of the customers till the possession of the property was given.
In the two press conferences held in Pune before his arrest in February 2018, DS Kulkarni has denied all the charges leveled against him by the police.