Mumbai News: Crime Branch Arrests 2 In Fraud Loan Case
In a recent incident, the Mumbai Crime Branch unit 4 successfully apprehended two suspects, Bhalchandra Palav, aged 31, and Rohit Nagvekar, aged 37, who were allegedly involved in a series of cheating cases.
Their arrest came after they were accused of swindling a man from Wadala out of ₹6.13 lakh. The victims fell prey to their deceitful scheme when the duo posed as office bearers of Vijaydeep Sahakari Patpedhi, Dahanu, promising the victim a substantial loan of ₹20 lakh.
These cunning individuals managed to evade the authorities for an extended period of six months, constantly changing their locations to stay out of reach. Their ability to evade arrest had frustrated law enforcement, as they had 14 similar cases registered against them in different jurisdictions, including Navi Mumbai, Thane, and Mumbai.
Finally, determined to put an end to their fraudulent activities, the authorities laid a clever trap for them at a Palm Beach in Navi Mumbai. This well-thought-out strategy proved successful as they finally managed to apprehend the culprits and bring them to justice.
The arrest of Bhalchandra Palav and Rohit Nagvekar not only provides some measure of relief to their latest victim but also potentially closes the doors on multiple other victims who had fallen victim to their deceitful tactics in the past. The police are currently conducting a thorough investigation into all the cases against them, aiming to ensure that they are held accountable for all their illegal activities.
This incident serves as a reminder for the public to exercise caution and vigilance when dealing with unfamiliar individuals or organizations promising large sums of money or enticing deals. It also highlights the dedication and hard work of law enforcement agencies in their relentless pursuit of justice, no matter how elusive the suspects may initially appear.
During their six months on the run, the accused individuals, Bhalchandra Palav and Rohit Nagvekar, adopted a cunning strategy to deceive people in multiple locations. They had set up their residence at various places, including Talegaon in Pune, Rajapur in Ratnagiri, Thane, Mumbai, and Navi Mumbai.
To further their fraudulent activities and attract potential victims, they resorted to printing pamphlets promoting easy access to loans purportedly offered by two firms, Aakriti Finance and Global Finance. These pamphlets were cleverly inserted into newspapers, reaching a wide audience and luring unsuspecting individuals who were in need of financial assistance.
The accused duo’s scheme was elaborate and well-organized, allowing them to operate across different regions and target numerous victims. By using multiple locations and fictitious companies, they made it difficult for law enforcement to track them down.
However, the authorities’ persistence and the well-executed trap at a Palm Beach in Navi Mumbai eventually led to their arrest, putting an end to their fraudulent activities and providing some relief to the victims who had been duped by their deceptive tactics. The investigation is ongoing, and further details about the scale and impact of their operations may emerge as the case unfolds.
Bhalchandra Palav and Rohit Nagvekar, the two accused individuals, devised a clever modus operandi to carry out their fraudulent activities. Posing as representatives of the loan companies Aakriti Finance and Global Finance, they gained people’s trust by presenting themselves as legitimate officials of these firms. One of them would take on the role of collecting the required documents from their victims, while the other played the part of visiting individuals to verify the submitted documents.
However, their promises of providing loans turned out to be empty, as they never actually disbursed any funds to the victims. Instead, they slyly collected significant amounts of money as processing fees from their unsuspecting targets. This deceitful approach allowed them to amass hefty sums of money from numerous victims who were seeking financial assistance.
Once they had gathered considerable amounts of money and their fraudulent activities started to attract attention, they swiftly changed their location to avoid detection. Additionally, to make tracking them down even more challenging, they turned off their phones, making it difficult for law enforcement to trace their whereabouts.
This carefully orchestrated plan allowed the duo to exploit people’s financial vulnerabilities, leaving their victims in a state of distress and financial loss. The authorities’ efforts in apprehending them and putting an end to their fraudulent escapades serve as a crucial reminder of the need to be cautious and vigilant when dealing with financial matters and unfamiliar individuals or organizations.
The case was brought to light when an FIR (First Information Report) was registered at Wadala Police Station, detailing the incident of cheating perpetrated by Bhalchandra Palav and Rohit Nagvekar. During the investigation, Assistant Police Inspector (API) Ajay Birajdar led a parallel inquiry under the guidance of Police Inspector Incharge of Unit Four, Indrajit More.
As the investigation progressed, the crime branch discovered a significant revelation – the purported organization they claimed to represent, Vijaydeep Sahakari Patpedhi, did not actually exist. This discovery raised suspicions about the legitimacy of their claims and further substantiated the allegations of cheating against them.
Moreover, the investigation shed light on the lifestyle choices of the accused duo. It was revealed that over the past four to five years, they rarely visited their homes. Instead, they chose to live a transient lifestyle, staying in hotels or lodges. This constant movement and lack of a fixed residence likely contributed to their ability to evade the authorities for such an extended period.
The money earned through their fraudulent activities seemed to have funded their nomadic lifestyle. By duping people of substantial sums of money through their loan scam, they had managed to sustain their accommodation expenses and other living costs without attracting too much attention.
However, their elaborate scheme eventually caught up with them when the crime branch, under the leadership of Indrajit More, successfully tracked them down at a Palm Beach in Navi Mumbai. The arrest of Bhalchandra Palav and Rohit Nagvekar marked the end of their fraudulent spree and provided some relief to the victims who had fallen prey to their deceitful tactics. The police’s dedication to bringing these criminals to justice highlights their commitment to protecting the public from such fraudulent activities.
