Share Trading Scammer Caught with Stolen Car After Defrauding ₹3 Crores

Pune: A man involved in a significant financial scam was apprehended by the Anti-Dacoity and Vehicle Theft Squad while driving a stolen vehicle.

The suspect has been identified as Shankar Raosaheb Shinde, a 33-year-old resident of Ahmednagar. Shinde had allegedly defrauded several individuals of nearly ₹2.89 crores by promising a 10% monthly return on their investments in share trading.

The police were patrolling the Hadapsar-Wanwadi area when they received a tip-off about a person driving a Kia car without a number plate. Acting on this information, the police detained Shinde along with the car at Sadesatara Nali.

Upon investigation, it was discovered that the vehicle had been stolen from Ahmednagar, and a case had already been registered at the Shevgaon Police Station.

During further questioning, Shinde admitted to duping residents of Shevgaon Taluka by falsely promising lucrative returns through share trading.

This scam resulted in a total fraud of ₹2.89 crores. With the arrest of Shinde, the police have solved two distinct cases linked to him—fraud and vehicle theft.

Shinde has been handed over to the Shevgaon Police for further legal proceedings.

This successful operation was executed under the supervision of Police Commissioner Amitesh Kumar, Joint Commissioner Ranjan Kumar Sharma, Additional Commissioner Shailesh Balkawade, Deputy Commissioner Nikhil Pingle, and Assistant Commissioner Ganesh Ingle.

The investigation was conducted by the Anti-Dacoity and Vehicle Theft Squad, led by Police Inspector Pawar, with the assistance of officers Dattatraya Kharpude, Rahul Ingle, and Sudesh Sakpal.