IPS Officer in Financial Spotlight: Hidden Transactions Unveiled

Rashmi Karandikar, an IPS officer, failed to disclose a Rs 2.64 crore bank transfer from her estranged husband, involved in tax fraud. The Economic Offences Wing investigation exposed the transfer, revealing she invested in share trading and suffered losses. Her husband, Purushottam Chavan, faces allegations of cheating multiple individuals.

The financial dealings of IPS officer Rashmi Karandikar have come under scrutiny following an investigation by the Economic Offences Wing (EOW) that revealed undisclosed funds entering her bank account.

A sum of Rs 2.64 crore, transferred by her estranged husband Purushottam Chavan, who is accused of extensive financial fraud, was not reported by Karandikar in her annual income declaration for 2017-2018.

Further probing revealed she ventured into intra-day share trading with the sum and incurred losses. Karandikar, currently serving as the SP/Administration Officer, stated during questioning that her husband handled her financial affairs. Meanwhile, Chavan remains under arrest facing charges of defrauding individuals and tax refund fraud.

(With inputs from agencies.)