Mumbai: A 19-year-old Dharashiv resident was duped of Rs 1.20 lakh after scammers posed as Dubai police and as his brother-in-law who works in a private company in Dubai.

About The Case

The victim first received a Facebook message from what he believed was his brother-in-law, claiming he had been caught by the Dubai police in a visa violation case and needed money for release. Soon after, he received a WhatsApp call from a person claiming to be a Dubai police officer, demanding Rs 7 lakh. After negotiations, the fraudster agreed to settle the matter for Rs 1.50 lakh.

The complainant informed his sister, who urged him to send the money. He transferred Rs 1.20 lakh through five online transactions to mobile numbers provided by the scammers. Later, the victim received a call from his actual brother-in-law, who said he had never been caught by the police. Realising he had been duped, the complainant lodged a complaint via the cybercrime helpline.

Case Registered

A case has been registered under sections 204 (impersonating a public servant) and 318 (cheating) of the Bharatiya Nyaya Sanhita, along with sections 66C (identity theft) and 66D (cheating by personation using computer resources) of the Information Technology Act.

Mumbai: The special PMLA court has refused to prosecute whistleblower Abhishek Gupta, a Chartered Accountant, booked by ED for money laundering in connection with the Torres fraud case.

Observation Made By The Judge

While dropping prosecution against Gupta, the special judge RB Rote, said: “There is no material/evidence to indicate that accused No.10 (Gupta) is actually involved in any process or activity connected with the proceeds of crime. Therefore, considering the limited role assigned against accused No.10, it shows that there are no sufficient grounds for proceeding against accused No.10 for the offence under PMLA.”

“Despite being aware of financial irregularities and non-compliance, he failed to take timely action or report these issues to the relevant authorities. His delay in raising alarms suggests that he knowingly facilitated the management’s illegal business dealings. The accused No.10, the Auditor, appears to have reported the irregularities and non-compliance in his audit report,” the court further said.

It, however, referred to the ruling of the Bombay High Court, where a Statutory Auditor and Chartered Accountant were discharged. The court, however, ordered to proceed against the other 12 accused, namely, M/s Platinum Hern Pvt Ltd (PHPL) – Torres Jewellery, Alpesh Khara, Sagar Paresh Mehta, Oleksandr Zapichenko alias Alex, Olena Stoian, Viktoria Kovalenko, Sarvesh Ashok Surve, Tausif Reyaz alias John Carter, Lallan Jamedar Singh, Tazagul Khasatova alias Tanya, Astrozen Pharma Pvt Ltd, and Prisah Advisory Pvt Ltd.

The Enforcement agency has claimed that, PHPL company lured the investors into a fraudulent investment scheme under the guise of high returns and lucrative rewards. The company enticed the customers by promising exaggerated weekly returns ranging from 2% to 9% on investments in gold, silver, original diamond jewellery, and precious gemstones, particularly targeting those looking to invest in these assets. ED claimed that they offered “Investment Bonuses” of 20% for bringing in new investors, creating a chain-like referral system.

“The sales officers at the showrooms misled the customers by conducting seminars, advertising high returns and offering lucky draws with the chance to win luxury cars and expensive mobile phones, giving an impression of legitimacy. In reality, the company marketed synthetic moissanite stones, which were much cheaper than diamonds, as high-value investments, promising that their value would increase in the future, akin to diamonds,” ED said, claiming that the value of the proceeds of crime as of now is Rs 177.11 crore.

Mumbai: In a significant development in the Rs 560 crore Karnala Nagari Sahakari Bank fraud case, the Enforcement Directorate (ED) has restituted immovable assets worth Rs 386 crore to the Competent Authority appointed under the Maharashtra Protection of Interest of Depositors (MPID) Act. The move is a major step towards compensating over five lakh depositors, many of whom are senior citizens and small investors, who lost their savings following the bank’s collapse.

The restituted assets, now slated for auction, were previously provisionally attached by the ED during its money laundering probe. According to officials, the properties located across Panvel and Raigad districts were acquired using funds siphoned off through bogus loans issued in gross violation of Reserve Bank of India (RBI) norms.

Fraud Rooted in Fake Loan Accounts

The investigation stems from a First Information Report (FIR) registered on February 17, 2020, by the Economic Offences Wing (EOW), CID, Pune. The chargesheet alleges that the bank’sKarnala Charitable Trust former chairman, Mr. Vivekanand Shankar Patil, along with other senior officials, engaged in a criminal conspiracy to defraud the cooperative bank by creating 63 fictitious loan accounts using forged documentation. The fraud, reportedly operational since 2008, facilitated the diversion of approximately Rs 560 crore into entities controlled by Patil, including the Karnala Charitable Trust and the Karnala Sports Academy.

ED investigation revealed that the proceeds of crime were channelled through 63 fictitious accounts to disguise the fraudulent transactions. These funds were later diverted into multiple bank accounts held by entities associated with Patil and his relatives. The money was allegedly used for the construction of a sports complex, educational infrastructure, and other personal investments, while being projected as legitimate assets.

Main Accused in Judicial Custody Since 2021

Vivekanand Shankar Patil, a four-time legislator from the Raigad district and a former Member of the Maharashtra Legislative Council, is a prominent figure in the state’s cooperative movement. As chairman of the Karnala Nagari Sahakari Bank, Patil allegedly played a central role in orchestrating the fraud. The ED arrested him under provisions of the Prevention of Money Laundering Act (PMLA) in 2021. Patil has remained in judicial custody since his arrest.

The immovable properties in question, including a multi-acre sports academy in Panvel and a prime land parcel in Posari, Raigad district, were attached in two phases on August 17, 2021, and October 12, 2023. A prosecution complaint in the matter was filed before the Special PMLA Court in Mumbai on August 12, 2021, and trial proceedings are currently ongoing.

Court Authorises Liquidation for Repayment

The restitution was initiated after the Reserve Bank of India-appointed liquidator filed an application under Section 8(8) of the Prevention of Money Laundering Act (PMLA), seeking permission to auction the attached properties. The ED supported the request. Acting on the application, the Special PMLA Court, in an order dated July 22, 2025, authorised the auction of the Karnala Sports Academy and a land parcel in Posari. The proceeds from the sale will be used to compensate the bank’s depositors.

At the time of its collapse, Karnala Nagari Sahakari Bank held deposits worth ₹553 crore from over five lakh customers. Given the widespread financial damage, the ED stated it moved proactively to ensure the early handover of attached assets for liquidation and compensation.