Credit society director arrested, 14 booked in cheating case

Borivali police arrested Rajani Deshpande for defrauding two individuals of ₹1.75 crore by promising loans. A manhunt for 14 other accomplices is ongoing.

MUMBAI: The Borivali police have arrested the director of a credit society and registered a case against 14 other office bearers of the society for allegedly defrauding two individuals of ₹1.75 crore by promising them loans for construction work in a private school and office.

Credit society director arrested, 14 booked in cheating case

The police have arrested Rajani Deshpande of the Gajanan Sahakari Credit Society and have launched an operation to nab the other wanted 14 accused in the case, including Jitendra Kokreja, Sushim Gaikwad, Popat Mule, Nikam Patil, Mohammad Aziz, Jayashree Bhoj, Amit Mehta, Suvarna Barekar, Bharat Babu Rangare and Anand Swami.

According to the police, the complainant, Rajkumar Anirudh Ghadge, a farmer from Solapur needed funds for some construction work in a private school he ran in his village, Deogaon. Around the same time, he met Rajani Deshpande and the other accused of Gajanan Sahakari Credit Society, who promised him ₹30 crore and took ₹94.75 lakh from him for the fund approval. Similarly, they promised a loan of ₹4 crore to Vaibhav Kadam, an acquaintance of Ghodke, who wanted to build an office-cum-residence, and took ₹80.25 lakh from him.

However, the accused could not get the loans approved as promised and started avoiding the complainants.

“When the complainants realised that they had been cheated by the accused, they rushed to Borivali police station and submitted an application,” said an officer from Borivali police station.

The police then registered a case of misappropriation of funds and cheating against the accused and was successful in arresting one of them - Rajni Deshpande – on Saturday, while the others absconded. Deshpande was produced in the Borivali court on Sunday afternoon which remanded her in police custody. Meanwhile, a hunt is on for the absconding accused.