Pune: In a major case of financial fraud, a construction businessman based in Pune was allegedly duped of ₹26 crore under the guise of investment in the steel and metal trading business.

The complainant, a resident of Ganeshkhind Road, filed a formal complaint with the Chatuhshrungi Police Station. The accused, identified as Karan Dilip Bothra of Pitale Nagar, Salisbury Park, has been charged with financial fraud. The alleged scam took place over a period from April 2023 to December 17, 2024, at the office of Purple Constructions Pvt. Ltd., owned by the complainant.

Accusations Against the Accused

The police revealed that the accused, Karan Bothra, established contact with the complainant through business dealings and persuaded him to invest in the steel and metal trading business with promises of high returns. Over time, Bothra reportedly pressured the complainant into making repeated investments.

To assure the complainant, Bothra issued declarations and undertakings backed by cheques, guaranteeing the repayment of the invested amount along with profits. However, the accused failed to honor his commitments, leading to significant financial losses for the complainant.

The Chatuhshrungi Police have registered a case under relevant sections, and Assistant Police Inspector Waghmare is leading the investigation into the matter.