A major financial scam has rattled Pune’s jewellery market after Sanjay Pukaraj Rathod (55), owner of Rathod Jewellers in Mukundnagar, was allegedly defrauded of assets worth Rs3.27 crore.
The Koregaon Park Police have arrested three suspects in connection with the case, while a fourth remains at large. The accused are proprietors of Navkar Jewellers and Shri Navkar Plus, who had initially established a business relationship with Rathod to gain his trust.
According to police officials, the suspects took possession of approximately 60 kg of silver and other valuables, promising to return finished jewellery within two to three days. They also received RTGS payments totaling Rs3,27,77,000. However, the accused allegedly stopped all communication and disappeared.
Rathod’s associates, Hari Vijay Balkrishna Devkar and Umesh Darade, were also deceived as part of the scheme.
The four identified suspects, all residents of Mahatma Phule Peth, are:
Pankaj Jain (alias Korimuthha)
Nemichand Korimuthha
Aman Korimuthha
Pranav Korimuthha (absconding)
Following the complaint, Pankaj, Nemichand, and Aman were arrested, and police are actively tracing Pranav Korimuthha.
A case has been registered at the Koregaon Park Police Station under the Bharatiya Nyaya Sanhita (BNS) for cheating and criminal breach of trust. Police are working to recover the defrauded assets and continue their investigation.
