Pune: Couple Duped of Rs 3.78 Crore in Fake Pune Metro Supply Investment Scam

Pune, 6th March 2026: A cheating case involving ₹3.78 crore has come to light in Pune, where a couple was allegedly duped after being lured into investing in a business that claimed to supply cement and steel for the Pune Metro project. The Loni Kalbhor Police have registered a case against two accused in connection with the alleged fraud.

According to police, the complaint was filed by Priti Vinod Jain (42), a resident of Manjari Budruk in Haveli taluka. Based on her complaint, a case has been registered against Santosh Suresh Kakade, a resident of Rahinj Vasti in Loni Kalbhor, and Atul Pawar, a resident of Khilarwadi near Nal Stop in Pune.

Police said Jain has been working as an agricultural assistant at an agricultural institute in Manjari since 2019. During the COVID-19 period, her husband Vinod Jain often accompanied her to Manjari due to travel requirements related to her job. During this time, Vinod Jain came into contact with the two accused.

According to investigators, Pawar runs a building material supply business in the Manjari area along the Pune–Solapur Highway. During a conversation at the shop, Kakade allegedly claimed that he was supplying cement and steel for the Pune Metro project. He reportedly told Jain that the business required substantial capital and promised high profits if he invested. Pawar also allegedly encouraged Jain to invest in the venture.

Initially, the Jain couple remained cautious. However, Kakade later supplied cement at lower rates and completed a few transactions smoothly, which helped gain their trust.

Encouraged by the apparent returns, the couple began investing money in phases. Between August and September 2020, they invested ₹27.87 lakh through multiple transactions and initially received profits of around ₹4 lakh.

Subsequently, between September and December 2020, they invested ₹2.54 crore after being promised profits of about ₹66 lakh. The total investment made by the couple eventually reached around ₹3.21 crore. Police said the accused initially returned ₹1.55 crore to the couple.

However, when the couple demanded the remaining ₹1.66 crore, the accused allegedly began avoiding repayment. They also allegedly threatened the couple with filing a false moneylending complaint at Hadapsar Police Station and abused them.

Realising that they had been cheated, the Jain couple approached the Loni Kalbhor Police and lodged a complaint against Kakade and Pawar. Further investigation in the case is underway.