The Mumbai police have arrested cricketer Hardik Pandya's stepbrother for allegedly cheating him and his brother Krunal in polymer business to the tune of more than ₹4 crore, an official said on Thursday.
The Economic Offences Wing (EOW) of the city police arrested 37-year-old Vaibhav Pandya on Monday on the charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery and other relevant sections, he said.
"The cricketer brothers along with their stepbrother set up a partnership-based firm in Mumbai and started polymer business in 2021. As per the partnership terms, the siblings invested 40% each, while Vaibhav invested 20% capital. It was decided that Vaibhav would handle daily operations of the business and the profits were distributed in the same ratio," the official said.
