Pune: Pimpri-Chinchwad Police Crack Down on Major Investment and Cyber Fraud Cases, Multiple Arrests Made

Pimpri-Chinchwad, 17th June 2025: Authorities in Pimpri-Chinchwad have made significant progress in tackling financial fraud, arresting several individuals in two separate high-profile cases involving investment scams and cyber fraud.

In the first case, four suspects were apprehended for allegedly duping a local resident of Rs 3.3 lakh by promising high returns through IPO investments in the share market. Police investigations revealed that Rs 2.1 lakh of the defrauded amount was transferred to a bank account in Silvassa, Dadra and Nagar Haveli. Acting on this information, law enforcement officials arrested Salman Rafiq Khan (32), Bunty Rameshbhai Panchal (30), Intaqaf Idris Khan (36), and Suraj Krishna Singh (34), all from Dadra and Nagar Haveli.

In a separate cyber fraud incident, a victim was swindled out of Rs 52.59 lakh after being threatened with digital arrest. The cyber police initially detained two suspects from Ahilyanagar, who, during interrogation, revealed the involvement of Vishal Palve. Palve allegedly acquired bank account details from various individuals and used these accounts to receive funds from cyber fraud victims. He then transferred the money to other accomplices via Cash Deposit Machine (CDM) and converted the funds into cryptocurrency (USDT) through crypto wallets.

Police later arrested Palve and seized nine mobile phones, 23 bank passbooks, 18 checkbooks, 35 debit cards, and Rs 6,400 in cash, totaling assets worth Rs 1,16,400. Along with Palve, Akshay Sadashiv Galve and Mayur Sunil Anecha were also taken into custody. Investigations revealed that the accused used decentralized wallets to conceal their identities and laundered the defrauded money back into the market via cryptocurrency.