States » WestPosted at: Oct 12 2026 10:29PM


Three Arrested in Inter-State ₹57 Lakh Fraud

Nashik, Oct 12 (UNI) The Ojhar police of Nashik Rural have busted an inter-state fraud racket and arrested three accused for allegedly cheating people of ₹57 lakh by promising to exchange withdrawn ₹2,000 currency notes and offering double returns on investments under the pretext of a 'Trade Profit Fund' (TPF). The police have recovered approximately ₹20 lakh in cash from the accused.
According to the complaint registered at Ojhar police station, the accused gained the trust of complainant Vishwas Narayan Borse and his associates by showing them a video of ₹2,000 currency notes. They allegedly claimed to possess withdrawn ₹2,000 notes and promised double the invested amount in exchange for facilitating the transaction.
The accused subsequently summoned the victims to Gandhinagar in Gujarat, Jaisalmer in Rajasthan and Panaji in Goa, citing slot bookings and other reasons. They allegedly collected a total of ₹57 lakh through cash transactions and bank transfers.
After the fraud came to light, the Ojhar police launched an investigation. The accused had allegedly concealed their real identities and operated under fictitious names, making their identification a major challenge.
Using technical analysis, the police formed two separate teams and conducted raids in Gujarat and Chhattisgarh. After camping in Surat, Vadodara, Ahmedabad and Raipur for two consecutive days, the teams arrested the accused from the Ahmedabad airport area and Raipur. Around ₹20 lakh in cash was seized during the operation.
### The arrested accused
* Shailesh Ramesh Auti — allegedly operating under the name Sanjay Sharma. A native of Narayangaon in Pune district, he was reportedly residing in Panaji, Goa. He has previous criminal cases registered against him in Nashik, Ghatkopar and Satara.
* Mohammed Nizamuddin Mustafa — allegedly operating under the name Mohit Oberoi and residing in Delhi.
* Ashwin Hiralal Patel — a resident of Raipur, Chhattisgarh. Police appeal to citizens
Ojhar Police Inspector Mahesh Kulkarni urged citizens not to fall for promises of exchanging withdrawn currency notes, doubling money or earning returns through schemes such as the Trade Profit Fund.
He appealed to people to verify the authenticity of any financial transaction before investing or handing over money, warning them against falling prey to such fraudulent offers.
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