Cyber Crime
IPS Officer Bhagyashree Navtake Entangled in Rs 1200 Crore Fraud Case, CBI Files Charges
Maharashtra: IPS officer Bhagyashree Navtake has been caught in a Rs 1200 crore fraud case related to the Bhaiyyachand Hirachand Raisoni Cooperative Credit Society in Pune. The Central Bureau of Investigation (CBI) has registered a case against her, charging her with forgery and criminal conspiracy. Navtake had previously investigated the case, but allegations arose that she ignored protocol during the investigation.
The fraud came to light after the Bhaiyyachand Hirachand Raisoni Cooperative Credit Society lured investors in 2015 with promises of high returns. When investors did not receive their returns, they filed complaints of fraud. Upon investigation, it was revealed that a scam of Rs 1200 crore had taken place. Over 80 cases were filed across Maharashtra related to this fraud.
Bhagyashree Navtake, who led the investigation from 2020 to 2022 as part of the SIT from the Economic Offenses Wing, was accused of procedural lapses during her investigation. A CID inquiry revealed that she filed multiple cases without conducting proper preliminary investigations. Pune police had earlier registered a criminal case against her, accusing her of conspiracy, creating false records, and forgery.
In August 2024, the Maharashtra government transferred the case to the CBI, which has now charged the officer with forgery and criminal conspiracy. The CBI’s findings indicate discrepancies in the valuation of assets involved in the case. They are expected to interrogate Navtake and record her statements as part of the ongoing investigation.