New Delhi: A man accused of cheating people of Rs 8 crore was arrested by the Delhi Police’s Economic Offences Wing.

The man was accused of taking the money on the pretext of making them associates in a cargo business.

The accused has been identified as Balakrishnan Shivram Iyer.

He was arrested by the wing from a luxury apartment located in Gurugram.

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The accused, a graduate in business administration is reported to be employed in the airlines and cargo business.

He was arrested based on a complaint by six persons who alleged that Iyer had taken Rs 8 crore from them to make them business associates.

They alleged that the accused claimed to be an executive director of Bhagwati Airways Express Ltd. 

They in the complaint further claimed to have signed franchise agreements with the accused. They were promised to make them business associates in territories of Mumbai, Chennai and Coimbatore.

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An investigation into the allegations is being carried out.

During the investigation, the police found that the accused was not authorized to sign any sort of agreement with the complainants.

He had been evading arrest for a long time.

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