The Economic Offences Wing has arrested Dinesh Krishnarao Nagpure, a resident of Sheshnagar, in connection with the Rs 23.19 crore fake gold loan fraud at ICICI Bank’s Nagpur branches. A court has remanded him to five days of police custody.
The fraud, which surfaced after Zonal Head Dhananjay Thite ordered an audit across branches following the discovery of counterfeit gold pledged at the Manish Nagar branch, involves 159 account holders across nine branches who allegedly pledged fake gold ornaments as collateral between January 2023 and October 2025. Investigators allege account holder Sachin Raut, valuer Nandu Kharwade, auditors Rajendra Shilankar, Pramod Tete and Dhananjay Dhomane, branch head Pankaj Kekatpure and 152 other account holders conspired to pass off counterfeit jewellery as genuine to secure the loans.
Nagpure is the fifth arrest in the case; Tete, Shilankar, Kekatpure and Kharwade were arrested earlier. A case has been registered at Dhantoli police station, with the Economic Offences Branch investigating under the Deputy Commissioner of Police’s supervision.
👉 Click here to read the latest Gujarat news on TheLiveAhmedabad.com