Pune Businessman Loses Rs 3.79 Crore in International Scrap Fraud; Key Accused Held in Kolkata
Pune, 29th November 2025: A large-scale interstate and international fraud racket has come to light after Khadak Police arrested a man accused of swindling a Pune-based trader out of Rs 3.79 crore through a fake scrap supply scheme spanning Dubai, Tanzania, and multiple Indian states. The suspect, identified as Bhupendra Singh alias Sanjay Kumar Raghav, was apprehended in Kolkata and brought to Pune for custodial interrogation.
Lavish Foreign Tours Used to Build Trust
The complainant, Sudhir Raghunath Barot—who operates a copper utensil business in Raviwar Peth—had been seeking bulk scrap material for his trade. Between December 2023 and August 2024, he met Raghav, who introduced himself as the director of Indo Arfi Metals Company LLC and Subperla International LLP. Raghav’s son, Praveersingh, reportedly accompanied him during the early meetings to appear credible.
According to investigators, Raghav invited Barot on trips to Dubai and Tanzania, where he showcased what he claimed was a 75-tonne scrap stockpile. He also promised smooth shipment of the material through Mundra Port in Gujarat. Convinced by the elaborate presentation, Barot transferred Rs 3.79 crore to an Abu Dhabi Bank account in Dubai. The scrap shipment never materialised, nor was the money refunded.
A complaint was subsequently lodged at Khadak Police Station.
As police dug deeper, officers discovered that Barot was not the only one targeted. Another Pune resident, Milind Ravindra Nashikkar from Parvati Darshan, was cheated of Rs 90 lakh, which he deposited into a Musheerat Bank account in Dubai under similar pretences.
Investigators have since identified several more victims from Punjab, Uttar Pradesh, Kerala, Odisha, Kolkata and other regions, all duped using the same promise of low-priced scrap and fabricated business documents.
Senior Police Inspector Shashikant Chavan confirmed that efforts are underway to trace Raghav’s son, Praveersingh Raghav, who is suspected to be directly involved in the operations.
Police officials say the case points to a well-organised con involving fake company identities, foreign bank accounts and international travel used to mislead traders. The arrest of Raghav is expected to open further leads as the investigation continues.
