Absconding father-son duo held in Rs 3,515-crore Kute Group’s Dnyanradha Multi-State Credit Society fraud
Action by Industrial Grievances Redressal Cell under Anti-Extortion Squad
Pimpri: The absconding vice-chairman and director father-son duo has been arrested in the Beed-based Kute Group’s Dnyanradha Multi-State Credit Society fraud amounting to Rs 3,515 crore.
The Industrial Grievances Redressal Cell under the Anti-Extortion Squad took action.
The accused cheated 4.50 lakh depositors, who had deposits valued at Rs 3,515 crores in the credit society’s 52 branches. As many as 42 offences were registered against them.
The arrested accused have been identified as Yashwant Vasantrao Kulkarni (55) and his son Vaibhav Yashwant Kulkarni (24), both residents of Punawale, hailing from Beed.
A cash reward was announced on Yashwant Kulkarni’s head. Officials and personnel of the cell were searching for details of accused in serious crimes when policeman Ganesh Girigosavi got a tip-off that the accused in the Dnyanradha Credit Society fraud would visit Phoenix Mall in Wakad. The police set a trap and arrested the father-son duo. After an interrogation, they were handed over to the DySP, Beed City, for further action.
The operation was conducted under the guidance of Commissioner of Police (CP) Vinay Kumar Choubey, Joint CP Dr Shashikant Mahavarkar, Addl CP Vasant Pardeshi and ACP Balasaheb Kopnar. Sr PI Devendra Chavan, PI Sunil Bhadane, API Amar Raut, police personnel Ganesh Girigosavi, Sunil Kangude, Kiran Katkar, Kishor Kamble, Bhupendra Chowdhary and Pradip Gaikwad conducted the operation.
