Pune Court Orders Return of Rs 11.33 Lakh to Victim in Rs 27.84 Lakh Crypto Fraud Case
Pune, 6th August 2026: A Pune court has directed the Wanawadi Police to return ₹11,33,171 that was frozen during the investigation of an alleged cryptocurrency investment fraud in which a 57-year-old man lost ₹27,83,744.
In an order dated July 30, 2026, Judicial Magistrate First Class P. B. Bharpure allowed an application filed by Pune resident Avinash Govind Jagtap, seeking the release of the frozen amount. Adv. Mrunay Vijay Jadhav and Adv. Mitali Ashok Malekar handled the cyber fraud case.
The court observed that Jagtap had submitted his identity documents, bank statements, and a copy of the First Information Report (FIR) to establish his claim. Since no other person had claimed the frozen funds, the court held that retaining the amount would cause further financial hardship to a victim who had already suffered significant losses due to online fraud.
The Wanawadi Police have been directed to transfer the amount back to Jagtap’s bank account after he executes an indemnity bond for an equivalent value. Under the court’s conditions, he will be required to refund the money if it is subsequently established that the amount does not belong to him. The police have also been directed to submit a compliance report after completing the process.
According to FIR No. 0512/2025, registered at Wanawadi Police Station on December 19, 2025, Jagtap allegedly received a Telegram message on September 3, 2025, offering an opportunity to invest in USDT, a cryptocurrency-linked stablecoin.
The fraudsters allegedly instructed him to download a cryptocurrency wallet application and create an account on a purported crypto-mining website. The FIR states that after making an initial payment of ₹3,950, 56 USDT appeared in his wallet, helping the accused gain his confidence.
Jagtap subsequently transferred money to multiple bank and UPI accounts provided by the suspects. The FIR records 11 transactions made between September 24 and October 24, 2025, resulting in an alleged loss of ₹27,83,744.
On November 6, 2025, the online wallet allegedly displayed an investment value and profit totalling ₹3,22,18,000. However, when Jagtap attempted to withdraw the amount, the transaction failed.
He was allegedly redirected to another Telegram account and asked to deposit additional money to activate his account. His wallet was later blocked.
After realising he had been cheated, Jagtap contacted the National Cyber Crime Helpline and subsequently approached the Pune cyber police. The FIR was registered against unidentified persons linked to the Telegram accounts, the purported crypto-mining website, and the bank and UPI accounts that received the funds.
The case has been registered under Section 66D of the Information Technology Act and Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita (BNS). The case records do not mention any arrests.
The court’s order is limited to the release of the frozen ₹11.33 lakh and does not cover the victim’s remaining alleged loss of ₹27.84 lakh.
