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This is an archive article published on November 21, 1998

JVG Chairman arrested

MUMBAI, November 20: The chairman of JVG group of companies, Vijay Sharma, was arrested from his Andheri residence early on Friday on charge...

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MUMBAI, November 20: The chairman of JVG group of companies, Vijay Sharma, was arrested from his Andheri residence early on Friday on charges of cheating his investors to the tune of Rs 60 crore.

Sharma was arrested by a joint team of Delhi police and a team from Unit-VII of the Mumbai police at 4 am. The team was led by senior police inspector Vilas Tupe.

According to the police, Sharma had escaped from New Delhi after his alleged Rs 60-crore swindle had come to light. The Delhi police had launched a manhunt and came down to Mumbai following a tip-off.

The police team raided Sharma8217;s fifth floor flat at Pancharatna at Versova. The officers banged on the door for over two hours waking up the neighbours. However, Sharma did not open the door. At 6 am, Sharma came out apparently feigning disturbance from a deep sleep. He was produced at the Esplanade Court and handed over to the police team from the R K Puram police station, New Delhi.

 

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