Mumbai, Jan 07: A major financial fraud has been registered at Dr. D.B. Marg Police Station under IPC Sections 409 (criminal breach of trust), 420 (cheating), 465, 467, 468, 471 (forgery and use of forged documents), Section 477(A) (falsifying accounts), and Sections 120(B) and 34 (criminal conspiracy and common intention). The complaint was filed by Santosh Gangaram Shingwan, alleging the involvement of 13 accused.
Thirteen accused named in FIR
The accused named in the case are Rajaram Govind Gorivale, Pandurang Sayaji Thore, Sudhakar Kanhu Misal, Mahadev Sakharam Jadhav, Pravin Shantarama Ghag, Milind Bacchu Ambekar, Simran Mangesh Patade, Anil Babu Gamare, the now deceased Sunanda Shankar Jadhav, Sunil Dattatray Kudekar, Avinash Madhav Gadre, Manohar Shankar Lale, and Amol Manohar Lale. Further investigation in the case is being carried out by the Economic Offence Wing (EOW).
Credit society allegedly defrauded of ₹17.88 crore
As per the FIR, all 13 accused colluded to defraud Sumitra Sahakari Patpedhi Ltd., Mumbai, of ₹17,88,82,225. Between 2010 and March 31, 2024, the accused allegedly conspired to fabricate loan applications by forging the signatures of several members without their knowledge or consent. Fraudulent loan proposals were sanctioned, and the loan amounts were allegedly misappropriated for personal gain.
Illegal loans and false clearance certificates alleged
Investigators also found that some borrowers were illegally granted loans, while others repaid their loans but were issued false clearance certificates. However, these repayments were not deposited into the cooperative society. Instead, the accused allegedly siphoned off the funds, causing massive financial losses to the members of the credit society.
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