Acting on a tip-off from police havaldar Ganesh Girigosavi, the crime branch of Pimpri Chinchwad police successfully apprehended a father and son duo at a shopping mall in Wakad on Friday. The suspects, identified as Yashwant Vasant Kulkarni (55) and Vaibhav Yashwant Kulkarni (24), are alleged to have been involved in a staggering Rs3,500 crore fraud connected to the Dnyanradha Multistate Co-operative Credit Society in Beed district, Maharashtra.
According to a press release from DCP (Crime) Sandeep Doiphode, the accused are implicated in cheating approximately 4.5 lakh depositors from 52 branches of the Dnyanradha society by promising substantial returns on their fixed deposits. Yashwant Kulkarni serves as the vice chairman, while his son Vaibhav is a director of the cooperative society linked to the Kute group in Beed. The duo is wanted in connection with 42 different offenses related to this extensive scam.
Authorities suspect that the Kulkarni family had been residing in Punawale while evading capture. DCP Doiphode confirmed that the suspects have been handed over to Beed police for further investigation. Multiple FIRs have been filed at various locations in recent months related to the fraudulent activities. Earlier, Beed police arrested several individuals, including Suresh Kute, the chairman of the cooperative society, as part of the ongoing investigation.
The Enforcement Directorate has also been conducting raids across Maharashtra as part of their inquiry into the alleged money laundering and financial fraud associated with the Dnyanradha Multistate Co-operative Credit Society.
