Nashik, February 2026: Nashik city police arrested Vishal Kadam (40) of Mhasrul and Amit Patil (31) of Dhatrak Phata, Panchavati, on Sunday for their alleged involvement in a cheating and illegal money lending racket. Two other associates are still at large.
The case was registered after a 40-year-old woman from Amrutdham, Panchavati, approached the Adgaon police, claiming her husband, a construction businessman, had been exploited by the duo.
According to the complaint, the victim had taken a loan from Kadam in 2020. The accused allegedly demanded repayment with exorbitant interest and coerced him into signing various documents. The complainant further stated that her husband was forced to transfer property into the accounts of Kadam and his associates, under the guise of legal registration. Proceeds from the sale of the property were also allegedly redirected to the accounts of the accused.
Acting on the complaint, the Adgaon police filed cases under relevant sections of the BNS and the Maharashtra Money Lending (Regulation) Act. Authorities confirmed that the remaining two suspects will be apprehended soon.
Police have appealed to citizens to report any harassment by illegal money lenders.
