Chandigarh, March 15 -- The Chandigarh Police Crime Branch arrested 52-year-old Vikram Wadhwa on Saturday, obtaining a five-day remand to further their investigation. Wadhwa is the key conspirator in a Rs.590-crore fraud involving Haryana government departments and Rs.190-crore financial irregularities linked to the Chandigarh municipal corporation (MC) and the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).

According to officials, Wadhwa was produced before the duty magistrate on Saturday evening and was sent to five-day police remand. During this period, the police will trace the complete money trail involving over 2,400 transactions.

Wadhwa, a Chandigarh-based hotelier and real estate developer who had...