Under the guise of offering a ₹30 crore cash for school development and a loan for house and office building expenditures, a 15-member gang defrauded two people of around ₹1.75 crore in a startling occurrence. A fraud complaint has been filed by the Borivali Police against 15 directors of the Gajanan Cooperative Credit Society as well as other defendants.

Mohammad Aziz, Jayashree Bhoj, Amit Mehta, Suvarna Barekar, Bharat Babu Rangare, Anand Swami, Popat Mule, Nikam Patil, Sushim Gaikwad, Jitendra Kokreja, Rajani Rajan Deshpande, and four other people are among the accused. In an attempt to find the other fugitive suspects, the police have detained Rajani Deshpande, the society director, and initiated a search.

The police claim that the complainant, Rajkumar Aniruddha Ghadge, a farmer and inhabitant of Degav, Pandharpur, Solapur, operates a private school in his hamlet. Ghadge need financial support to build a school. He met Rajani Deshpande and other defendants at this time. They were members and promoters of the Gajanan Cooperative Credit Society, which was situated in Charkop, Satyanagar, Shivdham Shivkripa Society in Kandivali.

The accused accepted 94.75 lakh as processing fees and promised to set up a ₹30 crore fund for the development of his school. Similarly, they took ₹80.25 lakh from Ghadge’s friend Vaibhav Kadam after promising him a ₹4 crore loan to establish a house and office.

Under the false pretense of offering a loan and a fund, the accused obtained ₹1.75 crore from both parties. Nevertheless, neither the loan nor the capital were made available in spite of the deadline. The accused began ignoring the victims when they asked for an explanation.

The victims went to the Borivali Police Station and lodged a complaint after realizing they had been duped. Following an inquiry, Rajani Deshpande and four other people were charged with fraud and embezzlement by the police. Rajani was arrested right away once it was determined after questioning that she was involved in the crime.To apprehend the second fugitive suspect, the police have initiated a special search operation. Investigations are still under progress.