Finance Co director remanded to police custody

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Nashik, Dec 5: A court here on Tuesday remanded a director of a finance company to police custody till December 6, for cheating several farmers to the tune of lakhs of rupees.

The accused, Vilas Hari Jadhav, director of V M Finance, was arrested on Monday for allegedly cheating several farmers, police said here today.

He was produced before a local court which remanded him to police custody till December 6. Jadhav's wife, Meenakshi, another accused in the alleged cheating case, is also in police custody till December 6.

Meanwhile, the number of farmers cheated by the duo has gone upto 30 and the amount of the fraud is believed to be Rs 22 lakh and it may aggregate to Rs 30-32 lakh, police said.

Some farmers from outside the district have also fallen prey to the Jadhav couple, who offered loan to the farmers at low interest rate.


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