Mumbai’s film industry is reeling from yet another scandal involving renowned producer-director Vikram Bhatt. Already behind bars in Udaipur jail for a 30 crore rupee fraud, Bhatt and his daughter Krishna are now slapped with fresh charges of defrauding a businessman of 13.5 crores. The Versova police station has registered the case, with the Economic Offences Wing (EOW) taking over the investigation.
The latest complaint alleges that Bhatt and his daughter lured the businessman with promises of high returns on film investments. They collected a whopping 13.5 crores but failed to repay a single penny or deliver on commitments. This brazen act of deception has prompted swift action from authorities, who transferred the probe to the EOW for deeper scrutiny.
Bhatt’s troubles began last December when he and his wife were arrested in connection with the 30 crore scam filed by Dr. Ajay Murdia of Indira Group of Companies. The duo, known for their IVF centers across India, accused the couple of swindling funds meant for a biopic on Murdia’s wife Indira and four other films. Despite partial shooting on some projects, demands for refunds were met with delays and excuses, leading to police intervention.
Currently in judicial custody after bail pleas were rejected, the Bhatts plan to approach the Jodhpur High Court. Health issues were cited in their failed bail applications, but the court remained unmoved. As the EOW digs deeper into the new 13.5 crore fraud, questions swirl about accountability in Bollywood’s investment circles.
This dual blow underscores the perils of opaque film financing. Investors, often drawn by glamour and tall promises, face substantial risks. With investigations ongoing, the industry watches closely, hoping for justice and stricter oversight to prevent future heartbreaks.