In a major breakthrough, Cidco police have arrested Anil Govinda Shinde, a resident of Pachora in Jalgaon district, in a Rs 50 lakh fraud case. Shinde, who posed as a Dubai-based businessman promising crores in investment, turned out to be only a 12th-pass student. Police have recovered valuables worth Rs 23.5 lakh from him. According to police, Shinde met Chandrabhan Watane (72) of Bajajnagar in Alandi during 2021-22. Claiming to own multiple companies in Dubai, Shinde told Watane that if given Rs 5 lakh, he would return Rs 15 lakh in a short time.
Watane's friend, Gautam Paikarao of Hatedi (Partur), needed funds for his animal feed company, Samarth Farmer. Convinced by Shinde's promises, Watane introduced him to Paikarao. Believing they could receive Rs 1.5 crore in return, the two arranged Rs 50 lakh from relatives and acquaintances and handed it over to Shinde. After receiving the cash, Shinde vanished from the city on March 18, 2025.
Acting on orders from senior PI Kundan Kumar Waghmare, API Yogesh Gaikwad and his team tracked Shinde. A tip-off revealed he would return to the city on Sunday. 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
Shinde had created fake company documents, IT returns, and even blank Rs 500 bonds to appear credible. After receiving the money, he flaunted bundles of cash on social media.
Of the Rs 50 lakh, he purchased two gold rings, bought a mobile phone worth Rs 1.5 lakh, made a fixed deposit of Rs 10 lakh, and kept Rs 10 lakh in cash, all of which have been seized. Police are investigating whether he has duped others using similar tactics. More arrests and recoveries are likely, said API Gaikwad.