Accused allegedly duped small business owners over 11 years; police say hawala and cash dealings may reveal deeper financial trails
The different products accused Ganesh Kantrao Pingalkar sold at his office in Crawford Market. Pic/Special Arrangement
A 36-year-old man from Hingoli, currently residing in Mumbai, has been arrested by the LT Marg police for allegedly running a well-planned fraud scheme targeting small businesses. Between 2014 and 2025, he is accused of duping at least 11 business owners. Police investigations revealed bank transactions worth several crores, excluding additional amounts moved through hawala and cash dealings with victims.
The accused has been identified as Ganesh Kantrao Pingalkar. According to police officials, he has no permanent residence and lives in various four- and five-star hotels. He travels in rented cabs with hired drivers and is believed to have no immediate family. In February this year, Ganesh set up an office in the Crawford Market area of South Mumbai, where he invited potential victims under the guise of business meetings.
Ganesh began his scam in 2014 by targeting small-time business owners, offering to supply chocolates and cold drinks at prices lower than market rates. He presented himself in a professional manner, assuring clients of smooth delivery by arranging transportation himself. However, he insisted on full payment in advance before any goods were supplied.
“He would arrange trucks and tempos for delivery, and the drivers would inform the victims that the vehicle had departed from the source. But eventually, after receiving the money, he would vanish without delivering the goods. This has been his pattern from the beginning,” said Police Sub Inspector Kunal Gholap, the investigating officer from LT Marg police station.
“His first case was registered at the Hingoli police station, and he was also arrested in Solapur. Just last year, we arrested him following a similar complaint, but he managed to secure bail and resumed his fraudulent activities.” Currently, Ganesh has active cases registered against him at police stations in Hingoli, Jalgaon, Mohadi (Bhandara), Karjat, Gadchiroli — where he is currently wanted — and LT Marg.
Arresting Ganesh wasn’t particularly difficult, as he frequently moved around within the LT Marg police station’s jurisdiction. “He was shocked when we arrested him, as he believed the written complaints against him would never be converted into FIRs. But we did — two FIRs,” a police official said. “We’ve also received two more written complaints, one from Shegaon and another from Nashik. Victims have lost lakhs of rupees.
We’re encouraging more victims to come forward and register FIRs to strengthen the case and reduce the chances of him securing bail and resuming his fraudulent activities.” The victims were mostly approached with offers to supply toys, luxury phones, cold drinks, and chocolates at rates lower than the regular market price.
Following Ganesh’s arrest, police examined his bank records and found that known victims had transferred around Rs 50 lakh to him. Additionally, bank transactions from individuals not yet officially on record totalled Rs 82 lakh, while hawala and cash dealings amounted to another R40 lakh—bringing the total to Rs 1.72 crore.
“And this amount is just from the past five months, not his entire earnings. As we dig deeper, we’re uncovering more victims and significantly larger financial transactions,” added PSI Kunal Gholap. Ganesh is currently in police custody and is scheduled to be produced in court on May 24. In the meantime, the police are gathering more physical evidence, recording statements from victims and associates, and speaking to people in the vicinity of his office.
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