Accused promised victims to secure government-subsidised loans for small-scale businesses; police indicate fraud of over Rs 40 lakh in 280 cases
A case has been registered at the Charkop Police Station. FILE PICS
The Charkop police have busted a major racket that allegedly duped hundreds of people across Maharashtra under the pretext of securing loans through NABARD schemes for small-scale businesses. While one accused has been arrested, the mastermind remains at large.
The case came to light after a victim was cheated of Rs 5 lakh with a promise of setting up a dairy farm under a scheme. Following a complaint, an investigation was launched and Shrikant Gavde, 37, a resident of Charkop, was arrested on March 17.
Role of accused
Shrikant Gavde was previously employed as a manager in a multinational bank but later came in contact with the absconding mastermind, identified as Anmol Thakre. Officials believe the Gavde is merely a middleman, and several such agents may be active across different districts.
Cases across Maharashtra
The accused not only operated in Mumbai but also carried out similar frauds in various districts in the state. Over the past five years, they allegedly cheated hundreds of people. Police have so far recovered around 280 files during the investigation, indicating fraud of over R40 lakh.
The mastermind
Anmol Thakre, the alleged mastermind behind the fraud, posed as a government employee and lured agents like Gavde by offering commissions. They would promise loans ranging from R25 lakh to R5 crore and demand an advance commission of around 10 per cent. Gavde would collect the money in his bank account, withdraw it in cash, and hand it over to Thakre.
What are the schemes under NABARD?
The NABARD scheme offers loan options to support rural development and agricultural projects
The National Bank for Agriculture and Rural Development (NABARD) is India's apex development financial institution. The NABARD scheme offers various loan options to support rural development and agricultural projects. These loans cater to farmers, rural entrepreneurs, and infrastructure development.
Modus operandi
The accused targeted people seeking loans for small-scale businesses such as dairy farms, poultry, and other ventures. They promised to secure government-subsidised loans under NABARD schemes and collected documents from victims. To gain trust, the accused would initiate fake registration processes for required licenses and approvals in the victims’ names. However, police said that not a single victim has reported receiving any loan.
Investigation underway
Police have written to the government departments concerned seeking verification of the claims. Preliminary findings suggest that no loans were ever sanctioned to the victims. Out of the 280 files recovered, 95 are currently in police possession, while Gavde has informed investigators that the remaining files were handed over to Thakre.
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