As of today, April 3, 2025, there are no recent news reports about a trader and their staffer being arrested for cheating a Madhya Pradesh businessman of ₹97 crore. However, here are some past incidents involving significant financial fraud:
- August 2024: The Mumbai police arrested Ashish Dinesh Kumar Shah for allegedly duping over 400 investors across several states, including Maharashtra and Tamil Nadu. Shah, who operated under the guise of a SEBI-registered agent, promised annual returns of 84% on investments.
- August 2024: The Azad Maidan Police apprehended Singapore-based NRI Hem Prabhakar Shah for cheating a Mumbai businessman of ₹3.5 crore. Shah supplied cement instead of the ordered steel and brass, leading to his arrest upon arrival at Ahmedabad airport due to an existing lookout circular.
- October 2023: Chennai Police arrested four individuals, including Tamil Nadu BJP’s farmers’ wing functionary Rajasekar alias SR Thevar, for cheating a Himachal Pradesh-based businessman of ₹1.40 crore. The accused promised to arrange a ₹70 crore loan but failed to deliver.
- July 2023: The Economic Offences Wing of Mumbai police arrested diamond trader Aditya Ashok Jogani for impersonating the personal secretary of former state chief secretary Ajoy Mehta. Jogani allegedly cheated a Santacruz-based businessman of ₹3.90 crore by promising to facilitate various tasks.
If you have more specific details or a particular case in mind, please provide additional information to assist further.
Sources