Pune: In a significant development, police have arrested Yashwant Vasantrao Kulkarni (55) and his son, Vaibhav Yashwant Kulkarni (24), in connection with a massive ₹3,515 crore fraud involving the Dnyanradha Multistate Co-operative Credit Society of The Kute Group in Beed.

The duo, who were serving as the Vice Chairman and Director respectively, were wanted in 42 criminal cases related to the scam, which defrauded 4.5 lakh depositors across 52 branches.

Officers and staff of the Anti-Extortion and Industrial Complaints Redressal Unit were gathering information on wanted and absconding accused in serious crimes.

During this investigation, Police Havaldar Ganesh Giri Gosavi received a tip-off that the father and son, accused in the Beed scam of the Dnyanradha Multistate Credit Society, would be visiting Phoenix Mall in Wakad.

Acting on this information, the police set a trap and arrested both the father and son. After initial questioning, they were handed over to the Deputy Superintendent of Police in Beed City for further action.

This successful operation was carried out under the guidance of Pimpri Chinchwad Police Commissioner Vinaykumar Chaube, Additional Police Commissioner Dr. Shashikant Mahavarkar, Assistant Police Commissioner Vasant Pardeshi, and Assistant Police Commissioner Balasaheb Kopnar,

with Senior Police Inspector Devendra Chavan, Police Sub-Inspector Sunil Bhadane, Assistant Police Sub-Inspector Amar Raut, and Police Officers Ganesh Giri Gosavi, Sunil Kangude, Kiran Katkar, Kishor Kamble, Bhupendra Chaudhary, and Pradeep Gaikwad playing key roles.