A retired cooperative bank officer has accused his 31-year-old relative of orchestrating an elaborate fraud that drained him of more than ₹4 crore. Police say the accused, identified as Shubham Sunil Prabhale, posed as a Military Intelligence officer and claimed he was due to receive a ₹38-crore payout from the Defence Ministry for past work.
Between January 2020 and September 2024, Prabhale allegedly persuaded the 53-year-old complainant to part with funds under the guise of “processing fees” required to release the supposed payout. Investigators revealed that to make the deception more convincing, Prabhale introduced the banker to associates impersonating ministry officials. These interactions, police noted, reinforced the illusion of legitimacy and deepened the victim’s financial commitment.
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According to police, the complainant raised money from his savings, his wife’s accounts, loans from relatives, and by liquidating assets, including a property and a vehicle. In total, ₹4.06 crore was transferred in cash and through bank channels.
Family Allegedly Involved in Fraud Scheme
The investigation has further implicated Prabhale’s parents and his brother, who are suspected of playing active roles in sustaining the fraudulent scheme. A case has been registered against the family under sections of the Bharatiya Nyaya Sanhita pertaining to impersonation of a public servant and cheating.
A senior officer involved in the probe confirmed that search operations are underway to locate the accused and his family, who are believed to be absconding. Police have described the case as particularly troubling, given the familial trust exploited in the alleged crime.
Frauds involving impersonation of officials remain a growing concern for law enforcement, often targeting vulnerable individuals with promises of government-linked payouts. Authorities said the magnitude of the case and the prolonged manipulation highlight both the sophistication of such frauds and the financial devastation they can cause.
The investigation is ongoing, with police examining financial trails and communications that could establish the extent of the conspiracy.