Owners of bogus brokerage involved in Rs 4,122 cr DHFL case held in UP

With these two arrests, the number of accuses so far been arrested by the EOW has risen to 14, including three serving or suspended UPPCL officials

The Uttar Pradesh Police arrested two persons for allegedly operating bogus brokerage firms and facilitating investment of UP Power Corporation (UPPCL) employees’ provident fund (PF) in private mortgage lender Dewan Housing Finance Corporation (DHFL).

The economic offences wing (EOW) of the police is currently probing the case. About Rs 4,122 crore of the PF corpus was parked with scam-hit DHFL between March 2017 and December 2018, in violation of norms.

The arrested have been identified as Manoj Goyal and Ishant Agarwal. They were interrogated by the EOW on Friday. 

Later, they were arrested when the investigators found gaps in their statements