Saturday, March 29, 2025
Ludhiana police have arrested suspects involved in a massive ₹7 crore fraud case targeting the owner of the Vardhman Group, one of India’s leading textile companies. The accused allegedly duped the industrialist by impersonating key stakeholders and forging financial transactions.
The arrests came following a weeks-long investigation initiated after a formal complaint by Vardhman Group officials. The suspects are believed to have orchestrated a fraudulent scheme involving forged documents, fake employment promises, and unauthorized fund transfers.
According to police sources, the accused also misled individuals with false employment offers in the name of the company. Investigators are now probing how the fraudulent operation was set up and whether any insiders were involved.
The police have confirmed that they are working on recovering the defrauded ₹7 crore and are verifying records to identify any other victims. Cybercrime and economic offense wings are also collaborating in the investigation.
While the Vardhman Group has not issued a detailed public statement, sources say the company is fully cooperating with the authorities and providing all necessary documents and transaction logs to aid the investigation.
Officials indicated that the scope of the fraud may be wider than initially believed, and more arrests could follow. Police are analyzing communication records, digital trails, and bank accounts linked to the suspects.
