Lokmat News Network
Chhatrapati Sambhajinagar:
A man who posed as a Dubai-based businessman and promised to bring crores in investment to expand businesses in India has turned out to have studied only up to the 12th standard. In a major breakthrough, Cidco police arrested Anil Govinda Shinde (resident of Pachora, District Jalgaon) in connection with a case of fraud, recovering valuables worth ₹23.5 lakh from him.
How the fraud happened
Chandrabhan Bapurao Watane (72, Bajajnagar) met Shinde in 2021-22 in Alandi. Shinde claimed to own multiple companies in Dubai and promised that if given ₹5 lakh, he would return ₹15 lakh in a short time.
Watane’s friend, Gautam Paikarao (Hatedi, in Partur), needed funds for his animal feed company, Samarth Farmer. Believing Shinde’s story, Watane arranged for a meeting between Paikarao and Shinde. Convinced of a potential return of ₹1.5 crore, the duo managed to collect and hand over ₹50 lakh to Shinde through relatives and acquaintances.
The escape and arrest
On the morning of March 18, 2025, as soon as Shinde received the ₹50 lakh in cash, he vanished from the city. Acting on orders from Senior Police Inspector Kundan Kumar Waghmare and API Yogesh Gaikwad started tracking Shinde. Upon receiving a tip that he would be returning to the city on a Sunday, the police laid a trap in the Cidco area and arrested him with the help of officers Subhash Shewale, Deepak Deshmukh, and Vishal Sonawane.
Fake businessman, real greed
Despite claiming to be a businessman with companies in Dubai, Shinde is only 12th pass. He created fake company documents, IT returns, and even provided blank ₹500 bonds to appear legitimate. After receiving the money, he even flaunted bundles of cash on social media.
Out of the ₹50 lakh, Shinde bought 2 gold rings; purchased a mobile phone worth ₹1.5 lakh; made a fixed deposit of ₹10 lakh and kept ₹10 lakh in cash, which has now been seized. Police are currently investigating if he has duped others using similar tactics. More arrests and recoveries may follow, said API Yogesh Gaikwad.