Home » Abhijeet Deshmukh Arrested in Rs2.40 Crore Konkan Railway Loan Scam

Abhijeet Deshmukh Arrested in Rs2.40 Crore Konkan Railway Loan Scam

Ex-chairman caught after month-long evasion in Marathwada

by Ananya Mehta

The Economic Offences Wing (EOW) of Mumbai Police has arrested Abhijeet Deshmukh, former chairman of the Konkan Railway Region (Urban) Co-operative Credit Society Ltd, in connection with a Rs2.40 crore loan fraud. Deshmukh, who led the credit society between 2020 and 2023, was detained from Hingoli after evading arrest for over a month.

Sources revealed that Deshmukh had switched off his mobile and fled across Marathwada, moving between Parbhani and Hingoli. He was located and arrested by EOW officers on Tuesday and is expected to be brought to Mumbai soon after obtaining a transit remand.

The case was initiated following an FIR by Sachidanand Shetty, Managing Director of the society, filed at Matunga Police Station. The FIR names Deshmukh, 48 fake loan beneficiaries, and multiple society employees, accusing them of criminal conspiracy and fraud.

Investigations uncovered that Deshmukh exploited his position to sanction loans, which were supposed to be for Konkan Railway employees only, to fictitious individuals. Forged identity and employment documents were submitted to the New India Co-operative Bank in Mumbai to process these fraudulent loans.

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