Pimpri Police Book Chinchwad Credit Co-Op Director for Defrauding Goa Investors
Pimpri police have registered a case against the director of a cooperative credit society in Chinchwad for duping 12 residents of Goa of Rs 3.72 crore over the past nine years. The accused is charged with criminal breach of trust and cheating.
PuneGoaFraudCooperative Credit SocietyInvestment SchemesReal Estate PuneJul 09, 2025
On Tuesday, a 53-year-old woman from Panaji filed a complaint, stating that she lost Rs 36.54 lakh in the alleged fraud. Following her complaint, the police began investigating and discovered that 11 more people from Goa had invested their money in various schemes of the cooperative credit society.
So far, 12 people from Goa have collectively lost Rs 3.72 crore in different schemes offered by the society. The complainant also mentioned in her complaint that over 200 people from Goa have invested their money in the various schemes of the credit cooperative society.
An officer from the Pimpri police explained that the complainant's husband runs a construction business in a Gulf country. He came into contact with the director of the Chinchwad-based cooperative credit society through a friend in 2016. The suspect met the complainant and her husband in Goa and offered various investment schemes, including the promise to double their investment in four-and-a-half years and a 12% interest rate on fixed deposits.
The suspect even organized seminars in Goa to inform potential investors about the schemes. The complainant stated that her husband and father-in-law invested Rs 28.44 lakh in the cooperative society's scheme and Rs 8.10 lakh in the suspect's real estate business.
The police are now thoroughly investigating the case to identify all the victims and take further legal action against the accused. They are urging anyone who has been affected by these schemes to come forward and file a complaint.
Frequently Asked Questions
What charges were filed against the director of the cooperative credit society?
The director was charged with criminal breach of trust (Section 316) and cheating (Section 318) of the Bharatiya Nyaya Sanhita (BNS), as well as relevant sections of the Unregulated Deposit Schemes Act.
How much money did the investors from Goa lose?
Twelve residents of Goa collectively lost Rs 3.72 crore in the alleged fraud.
Who filed the initial complaint with the Pimpri police?
A 53-year-old woman from Panaji filed the initial complaint, stating that she lost Rs 36.54 lakh in the fraud.
What kind of investment schemes did the suspect offer?
The suspect offered various schemes, including the promise to double the investment in four-and-a-half years and a 12% interest rate on fixed deposits.
What is the current status of the investigation?
The case is being investigated by the economic offences wing of the Pimpri Chinchwad police, and they are urging other victims to come forward and file complaints.
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