Mumbai, July 5 -- The Mumbai Crime Branch on Friday arrested a key accused in the alleged Rs.16.24-crore investment fraud involving actor Javed Jaaferi's family, claiming he forged a power of attorney in the name of a prominent developer to lend credibility to a proposed Bandra redevelopment project. The accused, Devendra Padwal, was arrested from Malvan in Sindhudurg district and remanded to four days' police custody, officers said. Investigators alleged that Padwal prepared a fake power of attorney purportedly issued by the developer, enabling the accused to project the investment proposal as genuine and win the confidence of the complainants. Police said suspended BMC assistant commissioner Mahesh Subhash Patil, considered the main accused, remains absconding despite a lookout circular being issued against him. The Crime Branch had earlier arrested OCI businessman Nishit Patel and Rupesh More. Police alleged that More impersonated a government official to persuade the complainants to invest in the project. The FIR was registered on the complaint of Habiba Jaaferi, wife of actor Javed Jaaferi, who alleged that the accused lured her family into investing in a Bandra redevelopment project using forged government documents and promises of high returns. Investigators said the family allegedly sold properties and transferred money through accounts specified by the accused. The fraud, involving bank transfers, cash, foreign currency and luxury watches, came to light after the promised investment failed to materialise. Apart from Patil, Patel, More and Padwal, the FIR also names Sagar Mehta and others. Police suspect the group may have targeted other high-profile individuals and said the investigation is continuing....