Mumbai/Shirdi. The probe into an alleged multi-crore land and financial fraud case in Maharashtra has widened after a court in Rahata remanded prime accused Ashok Kharat to police custody till May 9. Investigators are now examining a suspected ₹5.52 crore fund trail, suspicious financial transactions and alleged irregularities linked to multiple credit society accounts.
Custodial Interrogation Ordered in Fund Trail Probe
Ashok Kharat was arrested by Shirdi police from Nashik and produced before the Rahata court under security arrangements. Investigators sought his custodial interrogation, stating that it was necessary to identify the source, routing and beneficiaries of the disputed funds.
FCRF Academy Launches Premier Anti-Money Laundering Certification Program
The court accepted the request and granted police custody till May 9. Officials are now examining whether the transactions were properly reflected in financial and tax records or routed through concealed banking channels.
Suspicious Land Deal and Transactions Under Scanner
The case stems from allegations involving a 4.5-acre land parcel in Shirdi, reportedly valued at around ₹50 crore, which was allegedly purchased for ₹5.5 crore through suspicious financial arrangements. The complainant has alleged manipulated valuation, structured lending mechanisms and coercive financial practices.
Investigators have so far identified 14 suspicious financial transactions collectively amounting to ₹5.52 crore. Authorities suspect that the transactions may have been layered to hide the actual source and destination of funds.
Credit Society Accounts and Absconding Wife Add New Angle
The investigation has also expanded to Samata Credit Society, where authorities claim that around 100 bank accounts were opened in the names of 57 individuals, with Ashok Kharat allegedly listed as the sole nominee across all accounts.
Officials are examining account opening forms, digital banking records and transaction histories to determine whether proper documentation, consent and verification procedures were followed. The possible role of society administrators and directors is also under scrutiny.
Ashok Kharat’s wife, Kalpana Kharat, is currently absconding. Investigators suspect she may have played a role in managing financial flows and coordinating transactions across accounts. Her anticipatory bail application has been rejected, and police are tracing her location as the probe continues.
