Pune Businessman Scammed of Rs 53 Lakh in Loan Arrangement Fraud

Two individuals have been accused of scamming a Pune businessman and his manager out of Rs 53 lakh under the pretense of arranging a Rs 100 crore loan. The scheme involved falsified loan sanction documents and required various fees and documents related to a 100-acre land. Police are investigating.

A case has been registered against two individuals accused of defrauding a Pune-based businessman and his manager out of Rs 53 lakh. The suspects allegedly promised to arrange a Rs 100 crore loan for their firm but instead produced falsified loan sanction documents and demanded various fees.

The alleged fraudsters, identified as Shekar Sonar and Nishigandha Ambavane, were booked by the Thane city police under relevant provisions of the Indian Penal Code last Thursday. The fraudulent activities reportedly took place between February 2022 and June 2024.

Authorities revealed that the accused duo collected documents of a 100-acre land in Mangaon of Raigad and produced a fake loan approval letter purportedly from a nationalized bank. They collected Rs 53 lakh from the victims but did nothing to secure the loan. No arrests have been made yet, and an investigation is ongoing.