Hardik Pandya’s Step-Brother Vaibhav Arrested For Fraud, Allegedly Cheated Pandya Brothers Out Of Rs. 4 Crore!

Hardik Pandya led Mumbai Indians to their first win in IPL 2024. After a tumultuous start to the tournament and facing backlash, Pandya finally got a moment to breathe before the viral news of his stepbrother Vaibhav started making the news. It was reported that Hardik and Krunal’s stepbrother Vaibhav had been arrested on charges of forgery and fraud, allegedly duping the brothers of Rs.4.3 crore.

Hardik and Krunal, who are both known for their soaring cricket careers, have also started other businesses. The cause of Vaibhav’s arrest stems from one such business that the brothers started together.

Vaibhav Pandya, the stepbrother of Mumbai Indians captain Hardik Pandya, was taken into custody by the Mumbai police’s Economic Offence Wing on suspicion of defrauding the Pandya brothers of more than ₹4 crore in business, according to news agency ANI.

Mumbai Police allege that Vaibhav misappropriated approximately ₹4 crore from the joint firm, causing Hardik Pandya and his brother Krunal Pandya to lose money. On April 10, Vaibhav was arrested and charged with fraud and forgery by officials from the EOW wing.

Hardik, Krunal, and Vaibhav had chosen to establish a polymer company in 2021. According to the partnership agreement, each of the Pandya brothers put 40% of their money into the business, with Vaibhav adding an additional 20%. The agreement also said that any money made would be split similarly. However, Vaibhav violated the deal by creating another firm in the same trade without alerting the Pandya brothers. According to a source, the original partnership’s profits declined over this time, resulting in a Rs.3 crore loss.

The arrest reports have arrived weirdly; Mumbai Indians are set to play against RCB in the IPL match today. All eyes will be on Hardik Pandya and Mumbai Indians to see if they can win their second match.

Stay tuned to Koimoi for updates!

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