E-Paper
Bizman duped of ₹1.20 crore in loan scam, two arrested
Maharashtra police arrested two and booked eight for duping a businessman of ₹1.20 crore with a fake ₹100 crore loan promise.
In a major case of fraud, the Maharashtra Industrial Development Corporation (MIDC) Bhosari police have arrested two individuals and booked eight others for allegedly duping a businessman of ₹1.20 crore. The accused had promised the businessman a loan of ₹100 crore to help expand his business.
The incident occurred between July 1, 2023 and July 6, 2023 at Moshi in Pune district. After initial investigation, the police on January 27 filed a complaint and arrested Santosh Karmalkar, 48, from Moshi; and Kiran Jagtap, 30, from Alandi. The police also booked Mahesh Shelar; Vikas Sonawane, 38, from Wanwadi; Amar Shingade alias Patil from Islampur in Sangli district; Patel and Swami (full name not known) from Surat; Swami Maharaj from Moshi; and Hasmukh Bhai Kavad and Mahakali from Suraj in the state of Gujarat.
According to the complainant – Anil Bandu Tammande, 57, from Indrayani Nagar, Bhosari who deals in land – he wanted to expand his business and was hence in dire need of money. According to the police, the bank refused to give him a loan and wanted some mortgage against the loan amount. As a result, Tammande through Karmalkar and Jagtap approached Swami Maharaj who assured him of a loan of ₹100 crore via his Gujarati friends. Accordingly, the complainant along with Swami Maharaj approached Hasmukh Bhai who was ready to lend him the money. In order to process the loan, the complainant had to send ₹1.20 crore to the bank accounts of Hasmukh Bhai and Mahakali traders. However, the loan was never disbursed and the businessman soon realised that he had been duped.
Following Tammande’s complaint, the MIDC Bhosari police initiated an investigation and arrested two individuals involved in the scam. Eight others were booked for their alleged role in the fraudulent activity. The authorities have urged the public to be cautious when dealing with offers of large loans and to verify the authenticity of such deals to avoid falling prey to similar scams. A case has been filed under sections 420, 467, 468, 471, and 34 of the Indian Penal Code and further investigation is underway.
