Surat : Ex- Ventura Air Connect CEO Arrested for Rs.2.33 Cr fraud

Surat | Gujarat — Former CEO of Surat-based Ventura Air Connect, Kartikey Shankarlal Garasia, was arrested at Mumbai airport while attempting to board a flight to the United States. He has been accused of defrauding the aviation company of ₹2.33 crore in the name of aircraft purchase.

Garasia, a highly experienced pilot with over 4,700 hours of flying experience and a US-issued license, had allegedly used his position to orchestrate a financial fraud that stunned the aviation community.

Aircraft Deal Turns Sour

The case dates back to September 30, 2019, when businessman Manu Mohanbhai Sojitra, based on Dumas Road, Surat, filed a complaint against Garasia. According to the FIR, Ventura Air Connect had entrusted Garasia with the authority to purchase a new aircraft. He collected a total of ₹3.52 crore from the company for the deal.

However, the aircraft was never delivered. Out of the total amount, Garasia returned only ₹1.19 crore before disappearing with the remaining ₹2.33 crore.

“Trust was broken in the worst possible way. An aviation professional with international credentials exploited his position for personal gain. Such acts shake investor confidence in India’s emerging aviation sector,” said a source close to Ventura Air Connect.

Caught at Mumbai Airport

With Garasia absconding, Umra police registered a case and launched a manhunt. As he evaded authorities, a lookout notice was issued. This alert paid off when immigration officials at Mumbai International Airport detained him before he could fly to the US.

A police officer involved in the operation said, “The lookout notice was crucial. Without it, he would have escaped abroad. His arrest is a message that no matter how skilled or resourceful, fraudsters cannot run forever.”

Pilot Profile Raises Eyebrows

During interrogation, Garasia revealed that he is associated with Golf Arrow Flight School in Arlington, Texas, where he worked as a flight instructor. He boasted of his vast flying experience and American certification — a background that makes the fraud all the more shocking.

“For someone with such credentials to engage in this level of deception is deeply disappointing. It’s not just financial fraud, but a betrayal of professional ethics,” commented an aviation analyst.

Alleged Use of Insurance Money

Adding another layer to the case, investigators uncovered that Ventura Air Connect’s four-seater plane had earlier been damaged in a cyclone. Instead of using the insurance claim for recovery, Garasia allegedly diverted the funds to purchase two new planes and start his own aviation venture.

Police believe this could be part of a larger scam involving insurance manipulation and misappropriation of company funds.

Ongoing Investigation

Garasia was produced in court and remanded to two days of police custody. The case is now being handled by PI J.G. Patel of Surat Crime Branch, who indicated that “more shocking revelations are expected as the probe deepens.”