The Wanawadi Police have registered a case against seven individuals for allegedly orchestrating a Rs2.5 crore fraud by setting up a fake company in the solid waste management sector. The accused lured investors with promises of lucrative rental returns on vehicles and heavy machinery but allegedly resold the equipment without informing the owners. Investigations indicate that at least 110 individuals have been defrauded, and the number of victims is likely to rise.
Three accused – Sanket Sudhir Thorat (30), Sonu Navnath Hinge (29), and Rizwan Farukh Memon (44) – have been arrested, while cases have been filed against Pranay Uday Khare (32), Vrushali Santosh Raysoni (24), and Vijay Chandrakant Asher (65). The complaint was filed by Dnyanesh Khandu Shinde (24) of Avasari Budruk, Pune district.
The accused allegedly set up an office at Jagtap Chowk, Wanawadi, posing as representatives of BioFix Pro, a company claiming to be in the waste management sector. Sonu Hinge reportedly convinced Shinde and other investors that the company required JCB machines for rental purposes, offering a monthly rent of Rs1.3 lakh for seven years, with GST covered by the company.
Following these assurances, Shinde purchased a JCB machine worth Rs39 lakh on December 14, 2024, and handed it over to the company. By January, he had received only Rs60,000 as payment, with no further payments. Investigations revealed the machine was stored in a warehouse in Undri, on Katraj-Kondhwa Road. Rizwan Memon admitted that the machine had been sold through a third-party mediator, Darpan Thakkar.
Police further found that the accused had duped multiple investors into purchasing vehicles and machinery, including cars, tempos, JCBs, and organic waste composter machines, under the pretext of leasing them to companies. Investors, expecting stable rental income, later discovered their assets had been illegally resold, revealing a large-scale investment fraud.
