Pune: Fake Solid Waste Management Firm Dupes Investors of Rs 2.5 Crore, Three Arrested

Pune, 25th March 2025: The Wanawadi police have registered a case against seven individuals for allegedly cheating investors of ₹2.5 crore by setting up a fraudulent company in the solid waste management sector. The accused misled investors into purchasing vehicles, including motorbikes, two-wheelers, and JCB machines, under the pretense that the company would lease them. However, investigations have revealed that the accused sold these vehicles among themselves, defrauding at least 110 people, with the scope of the fraud likely to expand.

The police have arrested:
Sanket Sudhir Thorat (30, Handewadi)
Sonu Navnath Hinge (29)
Rizwan Farooq Memon (44, Ganesh Peth)
A case has also been registered against:
Pranay Uday Khare (32)
Vrushali Santosh Raisoni (24, Bibvewadi)
Vijay Chandrakant Ashar (65, Tilekarnagar, Kondhwa)
The case was filed based on a complaint by Dnyanesh Khandu Shinde (24, Avasari Budruk, Ambegaon taluka, Pune district) at the Wanawadi police station.

Modus Operandi: Fake Rental Scheme for Vehicles
According to the police, Shinde and the accused Sonu Hinge are both originally from Avasari Budruk village in Ambegaon taluka. The accused had set up an office in Jagtap Chowk, Wanawadi, where Hinge approached Shinde, claiming to represent a company named Biofix Pro, allegedly working in the solid waste management sector.

Hinge lured Shinde into purchasing a JCB machine by claiming that the company would lease it for seven years, paying a monthly rent of ₹1.3 lakh, with GST covered by the company. Trusting the scheme, Shinde purchased a JCB machine worth ₹39 lakh on December 14, 2024, and handed it over to Biofix Pro Company the next day.

In January, Shinde received ₹60,000 as partial rent, but the remaining amount was never paid. When he inquired about the JCB machine’s location, Hinge provided vague responses, raising suspicions.

Investigation Uncovers Massive Fraud
Upon further investigation, police found the JCB machine abandoned in a warehouse in Undri, along Katraj-Kondhwa Road. When questioned, accused Rizwan Memon claimed the JCB and Pokeland machines were procured through Darpan Thakkar, an intermediary.

Police later discovered that the accused had duped multiple investors by falsely promising to lease vehicles to reputed companies such as Biofix Pvt. Ltd., Mufyco Company, and Bharat Industries. So far, 150 investors have come forward, filing complaints at the Wanawadi police station.