Pune: MLA’s Brother’s Firm Duped Of Rs 6 Crore In Crude Oil Investment Scam; Four Booked

Pune: In a major financial fraud case in Pune, a company linked to the brother of an MLA was allegedly cheated of Rs 6 crore after being lured into a fake crude oil investment scheme that promised massive returns within a short period.

Based on a complaint filed by Kalidas Tukaram Gujar, manager of Aryan Securities Pvt. Ltd. in Wakad, the Baner Police Station has registered a case against Poonam Mahadev Shelke, Vinayak Mahadev Shelke, Indrajit Singh Uppal and Saurabh Chakravarty.

According to police, Poonam and Vinayak Shelke are originally from Ambegaon in Pune district and are currently based in Dubai. Uppal is a resident of Ludhiana in Punjab, while Chakravarty is from Delhi.

Police said Aryan Securities Pvt. Ltd., which operates from Baner, is headed by directors Shekhar Gore and Sonal Gore. Investigators stated that Gauri Vishal Mane, a manager in the company, is related to Poonam and Vinayak Shelke.

Through multiple meetings with the company directors, the accused allegedly promoted lucrative crude oil investment opportunities and convinced the firm to initially invest Rs 2.94 crore. However, police said neither the promised profits nor the invested amount was returned to the company.

While the company was allegedly trying to recover its money, the accused reportedly approached the directors again on April 28, 2025, with another business proposal connected to a crude oil trading company named “Vizar Arix", allegedly operated by Indrajit Uppal and Saurabh Chakravarty.

The accused allegedly assured the directors that investing an additional Rs 6 crore would help recover the earlier losses and generate returns of nearly Rs 43 crore within two months.

Believing the proposal, the company allegedly transferred Rs 6 crore to the accused. Later, company director Shekhar Gore travelled to Dubai to meet Uppal and Chakravarty regarding a formal business agreement.

Police said the duo allegedly assured Gore that the investment amount was safe and claimed the agreement process would later be completed in Pune.

However, when the company repeatedly followed up regarding the agreement and repayment, Poonam Shelke allegedly stopped responding to calls and messages.

According to police, Gore and Gauri Mane later travelled to Dubai again, where Uppal allegedly revealed that parts of the investment amount had already been transferred into the personal bank accounts of Poonam Shelke, Vinayak Shelke and Saurabh Chakravarty.

Police further stated that when they visited Poonam Shelke’s residence in Dubai, they discovered that she had vacated the premises. Attempts to contact the accused later reportedly failed.

During questioning, Chakravarty allegedly claimed that the Rs 3 crore transferred to his account was repayment of money owed to him by the other accused.

The Economic Offences Wing has now registered a case against all four accused at Baner Police Station. Further investigation is being conducted by Assistant Police Inspector Dattatraya Waghmare.