Pune. A security agency owner has been arrested in Nigdi after a woman alleged that she was cheated of ₹22.5 lakh through a fake investment scheme promising to double her money within 10 days. Police said the accused used trust-building tactics, a security cheque and false business assurances to convince the complainant to transfer the money.
Promise of Quick Returns Used to Gain Trust
According to officials, the complainant came in contact with the accused in February 2026. The accused allegedly presented himself as a successful businessman and claimed that investment in his company would generate exceptionally high returns within a short period.
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Through repeated conversations, he allegedly gained the woman’s confidence. In March 2026, she transferred ₹22.5 lakh as instructed by him. To reassure her, the accused allegedly issued a cheque worth ₹25 lakh as a security guarantee.
Security Cheque Had No Backing, Police Say
After the promised period ended, the accused allegedly failed to return either the principal amount or the promised profit. He reportedly avoided communication and later stopped responding.
Investigators found that the cheque given as security had no real financial backing and was allegedly used only to create confidence. Police said initial findings indicate the use of fake financial assurances, forged documents and misleading claims to project legitimacy.
Probe Looks for Wider Fraud Pattern
Nigdi Police registered a case and arrested the accused after examining the complaint and available evidence. The case has been filed under provisions related to cheating, criminal breach of trust, forgery and use of fabricated documents under the Bharatiya Nyaya Sanhita.
Officials said the accused allegedly used his identity as a security agency owner to gain credibility with potential investors. Police are now examining bank records, financial transactions and digital communication logs to trace the money flow and determine whether more people were targeted through a similar scheme.
Investigators said the case resembles recent investment frauds where victims are promised unusually high returns in a short time. Police have advised citizens to remain cautious about such investment offers, particularly those based on personal trust rather than regulated financial channels.
