Rs 18-Crore Heist at Pune Jeweler: Trusted Employee Among Three Arrested, Rs 5.2 Crore Recovered
Pune, 25th April 2026: The Anti-Extortion Squad of the Pune City Crime Branch has busted a major embezzlement case, arresting three individuals—including a senior employee—for allegedly cheating a prominent Laxmi Road jeweler of Rs 18 crore. The police have recovered stolen goods and assets worth over Rs 5.24 crore, including a Mercedes-Benz and over 3.5 kilograms of gold.
The accused have been identified as Prashant Kantilal Barmacha (61), a resident of Kondhwa, Pune; Ramakant Mahadev Parale (62); and Madhu alias Maheshwari Ramakant Parale (22), both residents of Kedgaon in the Ahilyanagar district. An FIR has been registered at the Vishrambaug Police Station under relevant sections of the Bharatiya Nyaya Sanhita (BNS) for criminal breach of trust, cheating, and criminal conspiracy.
How the Scam Unfolded
The massive fraud was exposed during the jewelry company’s annual audit and stock verification in March 2026. Auditors discovered an unaccounted shortfall of 12.8 kilograms (12,800 grams) of gold jewelry and Rs 72 lakh in cash.
An internal inquiry pointed directly to Prashant Barmacha, an employee working at the company’s Laxmi Road showroom. Police investigations revealed that Barmacha abused his position of trust to systematically siphon off the gold and cash, deceitfully handing the assets over to a female accomplice.
The Raid and Seizure
While investigating the case, Police Inspector Ram Rajmane of Anti-Extortion Squad-02 received intelligence that the accused were hiding out in the Ahilyanagar district. A dedicated team raided a residence in Kedgaon, where they found Barmacha, who had been hiding at Ramakant Parale’s house for the past month and a half.
A sweeping search of the Parale residence led to a massive recovery of assets purchased or stored using the embezzled wealth. The total seizure is valued at Rs 5,24,82,000 and includes:
Gold Jewelry: 3.552 kg, valued at Rs 3,90,72,000.
Luxury Vehicle: A Mercedes-Benz car, valued at Rs 1,30,00,000.
Electronics: Mobile phones used in the crime, valued at Rs 3,30,000.
Cash: Rs 80,000.
Further investigation into the remaining missing assets is being spearheaded by PI Ram Rajmane.
The successful tracking and arrest operation was executed under the strategic direction of Pune Police Commissioner Amitesh Kumar, Joint Commissioner Ranjankumar Sharma, Additional Commissioner Pankaj Deshmukh, DCP (Economic & Cyber) Vivek Masal, and ACP (Crime-2) Rajendra Mulik. The field team comprised API Kalyani Kasode, PSI Abhijeet Pawar, and police personnel Anil Kusalkar, Kiran Padyal,
Ajinath Yede, Nitin Mundhe, Kanifnath Karkhele, Azad Patil, Ganesh Kharat, Prashant Shinde and Santosh Vibhute.
