A major financial fraud involving alleged forex investment schemes has surfaced in Nagpur, prompting Bajaj Nagar police to register a case against 13 individuals, including well-known hawala operators from Mumbai and Raipur. While the total amount siphoned off is suspected to be much higher, an official complaint of ?7.25 crore has been filed so far.
Thirteen Accused Named in the FIR
Those booked include Abhishek Pachchav, Priyanka Pachchav, Anmol Hashmi, Rahul Tolani, Pranay Kochar, Sarvesh Pandey, Manoj Dorlikar, Haji Iqbal Sheikh, Imtyazuddin Inamdar, Murtaza Shakir, Praveen Gumgaonkar, Ravi Mulchandani, and Prakash Bahune.
According to police sources, the complainant Mustafa Ali, a Satranjipura resident and spare-parts shop owner, came into contact with the accused in May. The group allegedly enticed him and his associates with promises of 6% to 11% monthly profits through high-return forex investments.
Investors Deposited ?7.25 Crore; Returns Never Delivered
Believing the assurances, Mustafa and his partners transferred ?7.25 crore into bank accounts provided by the accused. However, when they later asked for returns or repayment of their principal amount, the accused allegedly evaded them. Soon after, the group reportedly shut down their company altogether, raising strong suspicion of a pre-planned and coordinated scam.
Mustafa subsequently approached Bajaj Nagar Police, who registered a case under charges of cheating and provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act. A detailed investigation is now underway.
Key Accused Linked to Large-Scale Hawala Networks
Sources indicate that Pranay Kochar, Sarvesh Pandey, and Rahul Tolani are central figures in the alleged racket. Kochar is said to be a major hawala operator in Mumbai, while Pandey reportedly runs an extensive hawala network in Raipur, with both individuals believed to have amassed substantial wealth rapidly.
Sarvesh Pandey is also reportedly involved in multiple cases across different states and has alleged links with other fraudsters in Nagpur. His name had earlier surfaced in a fake GST billing racket, further deepening suspicion about his operations.
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