Mumbai, Jul 6 (PTI) The crime branch of Mumbai Police has arrested a fifth person in the `dabba trading’ or illegal share trading case, an official said here.
The 33-year-old man, a stock broker, was arrested by unit-11 of the crime branch on Wednesday, he said.
The police had last month arrested a 45-year-old share broker for allegedly trading in shares worth hundreds of crores of rupees outside the purview of recognized stock exchanges.
The accused and his associates conducted illegal trading, also called `Dabba trading’, with the help of `Moody’ app, police claimed.
The turnover of the main accused during the period between March 23 to June 20, 2023, was Rs 4,672 crore, police claimed.
The share broker, thus, cheated the government of more than Rs 1.95 crore in revenue by evading the security transaction tax, capital gains tax, the state government stamp duty, SEBI turnover fees and stock exchange turnover revenue, police said. PTI DC KRK
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