Michael D'Souza, a cleaner with the BEST, was arrested by the general branch today in connection with the Vaibhavlaxmi money circulation scheme floated by Ashok Sheregar, managing director of Ashankur Finance and Investments Private Limited, Dadar.As per the scheme, investors were promised double their investments within a period of two months. D'Souza, an agent with the scheme, had collected Rs 67.40 lakh and earned nearly a lakh of rupees as commission. The total amount collected by the promoter and agent is Rs 18.60 crore.

Gawli men held

Seven members of the Arun Gawli gang were arrested by Unit 4 of the Crime branch at Worli today. The police said the gang was involved in cases of murder and extortion in Worli, Dadar and Prabhadevi, including the murder of businessman Laxman Nair in 1996, who was killed at Bhat Chawl, Gandhinagar.

Those arrested are Balkrishna Sitaram Kelkar alias Kanya Bala, Arvind alias Arun Narayan Rane, Krishna Vithobha Dalvi, Vasudev Hari Kadam, Ravindra Baban Mahatre, Sunil Tukaram Timple and Jayaram Subanji Ghadge.Police sources said with this arrest, the Nair murder case in which the police did not have a single clue earlier has been solved.

The gang would extort money from small shopkeepers and businessmen, and several complaints of extortion were registered against them, said the police.

Two nabbed

Two persons were arrested by the General Branch from Arthur Road Naka, NM Joshi Marg today in connection with the Mahalaxmi Best Chain Scheme run by Gurunath Harpale, Sanjay Keni and others.

Sahil Laxman Sawant (22) and Samir Ramesh Sawant (20) were arrested today.As per the scheme, members were promised double the money within a period of 32 days. This scheme cheated thousands who had invested crores of rupees. The promoter and agent collected Rs 20 crore totally from the investors.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.