Oshiwara Police have arrested Jai Kumar Nair, a choreographer and former finalist of the reality show Dance India Dance, for allegedly defrauding a woman of ₹20 lakh by promising high returns on cryptocurrency investments. The accused, who frequently traveled abroad for shows, was apprehended at Chhatrapati Shivaji Maharaj International Airport on Tuesday while attempting to fly to Dubai. A lookout notice had been issued against him prior to his arrest.
The complainant, Deepti Surendrakumar Asija, resides in the Oshiwara area of Andheri and runs an imitation jewelry business. She met Jai Kumar in May 2022, who introduced himself as an investment consultant specializing in cryptocurrency. Trusting his advice, Deepti invested ₹20 lakh between November 2022 and February 2023, expecting significant returns. Jai Kumar promised to pay her 7% interest on ₹6 lakh and 5% on the remaining ₹14 lakh.
Initially, Jai Kumar made token payments to maintain the facade of genuine investment returns. However, when the payments stopped, Deepti grew suspicious and started investigating. She soon discovered that Jai Kumar had no legitimate cryptocurrency business and had similarly duped several other individuals under the guise of offering profitable investment opportunities.
After multiple attempts to recover her money failed, Deepti lodged a complaint with Oshiwara Police. A case of fraud was registered, and upon investigation, Jai Kumar was found to have fled the city. Given his frequent international travels, the police issued a lookout notice to prevent him from leaving the country.
On Tuesday, as Jai Kumar arrived at the Mumbai airport to board a flight to Dubai, immigration officials detained him based on the lookout notice and alerted Oshiwara Police. Officers arrived at the airport and formally arrested him. Further investigation confirmed his involvement in the fraudulent scheme, leading to his custody.
The police are now probing whether more victims are involved in this case and if Jai Kumar had any accomplices in the scam.