Patna: Patna police arrested a man in connection with an alleged Rs 4 crore financial fraud case registered at Kotwali police station with several people now coming forward claiming they were cheated of crores of rupees.The accused, Shridhar Pathak (45), a native of Kapsiyawan in Nalanda and currently living in Gola Road under Danapur police station, was arrested in Lucknow and brought to Patna on Tuesday.Additional superintendent of police (Law and Order-I) Krishna Murari Prasad said the case was registered a few months ago over allegations that money taken for a specific purpose was diverted elsewhere. The accused had also issued cheques against the money, which were dishonoured due to insufficient funds.According to Prasad, Pathak allegedly took money from several people promising to invest it in shares and generate returns. “There are several aspects to the case, but prima facie it involves large transactions and substantial amounts of money,” he said.Police said Pathak had been served notices to appear before the investigating team but allegedly evaded them. During the investigation, police learnt that several people had given him money and began efforts to trace him.A warrant was obtained from the competent court and Pathak was arrested, Prasad said. Police questioned him on Tuesday and received several fresh applications from people alleging he had taken crores of rupees from them.“Since the matter involves substantial financial transactions, we will also inform the multidisciplinary agencies, particularly those dealing with economic offences. Wherever required, agencies such as the Income Tax Department and other concerned departments will be involved so that the investigation can be conducted thoroughly,” Prasad said.
