Indore (Madhya Pradesh) [India], June 17 : Three people were arrested in connection with the loot of Rs 29.65 lakh from a scrap trader in Madhya Pradesh's Indore district, police said on Wednesday.
The incident took place in the Pandhrinath area in the district on the night of June 11. The loot was masterminded by Chandrashekhar Mukati, who himself, works in a similar business, allegedly sent his two associates, Amar and Praveen Bhandari, to carry out the crime.
Pandhrinath police station incharge Satish Patel informed that two persons arrived on a two-wheeler at around 8:30 pm on June 11, snatched a bag full of money from the businessman and ran away. The complainant tried to chase them, but both accused managed to escape.
"Following the incident, a total of eight police teams were formed to trace and arrest the accused. After a coordinated investigation, the teams identified the suspects and arrested three people. One of them, Chandrashekhar Mukati, works for another scrap trader and he is the mastermind. He hatched a conspiracy with Praveen and Amar to execute the robbery," Patel said.
As per their plan, Chandrashekhar Mukati handed over a payment to the complainant, Mukul Agarwal, and then informed his accomplices to track the movement. The victim further collected payments from other places as well, and when the accused saw the opportunity, they snatched the bag from him, he added.
The officer further said, "During interrogation, Mukati told police that he had suffered losses in cryptocurrency investments and was also in debt. To compensate for those losses and repay the debt, he hatched the conspiracy."
The police recovered a total of Rs 22.60 lakh in cash, a car and jewellery purchased from the looted money were seized from the accused, he added.
Meanwhile, scrap trader and complainant Rakesh Goyal said, "My nephew, Mukul Agarwal, was returning after collecting money from some traders, other people in the market, and my acquaintances. Some unidentified persons had been following him. They had been trailing him ever since he collected the first payment. The total amount he was carrying was Rs 29.65 lakh. As soon as they got an opportunity, they snatched the bag containing the cash and fled from the spot. Mukul works with me and handles collection-related work."
Upon receiving the information about the incident, the trader informed the police authorities and lodged an FIR, he said.
"One of the arrested accused is Chandrashekhar Mukati, whom I know personally. He was the one who made the first payment to Mukul. Aluminium scrap from my business is supplied to a factory, and Mukati works as an agent for that factory," Goyal said.
He further expressed satisfaction over the swift action taken by the police in solving the case and recovering a substantial portion of the stolen money.