Pune: 54-Year-Old Woman Duped Of ₹40 Lakh In Investment Scam; Father-Son Duo Booked

Pune Police has booked a father-son duo for allegedly cheating a 54-year-old woman of ₹40 lakh by luring her with a promise of 40 per cent returns in a real estate investment scheme.

The accused have been identified as Anil Kataria (60) and his son Rahul Kataria (35), residents of Koregaon Park. The alleged fraud took place between November 2022 and April 13, 2026.

According to the police, the complainant, Ratandevi Kantialal Oswal, a resident of Bhavani Peth, lodged a complaint regarding the matter at Khadak Police Station.

Oswal came in contact with the accused around five years ago through an LIC agent, Deepak Shah. They claimed to be involved in the real estate business and built trust by borrowing and repaying small amounts earlier.

In November 2022, the duo approached Oswal, stating they needed ₹40 lakh to purchase a plot of land. They assured her that instead of a simple loan, they would pay her monthly returns of ₹1.60 lakh (approximately 40 per cent annually) and return the principal amount whenever required.

Trusting them, Oswal withdrew her investments from the stock market and handed over ₹40 lakh in instalments between October and December 2022. Despite her request for a formal agreement, the accused allegedly convinced her to rely on verbal assurances.

Initially, the accused paid ₹1.60 lakh per month for three months between August and October 2023. However, they later stopped payments and began avoiding her. After repeated follow-ups, they issued three cheques worth ₹40 lakh, which bounced due to a signature mismatch.

When confronted, the accused promised to issue fresh cheques. Later, they continued to evade contact. They reportedly vacated their residence in Koregaon Park and communicated only through the Signal app. Even after assuring repayment within a month via a third party, they failed to return the money.

Following this, Oswal approached the police and filed a case against the accused.