Pune police book 23 over alleged Rs 14.71 crore crypto investment fraud

Bund Garden, October 30, 2026: A major investment fraud of Rs 14.71 crore has come to light in Pune. More than 20 investors were allegedly cheated through fake companies and online cryptocurrency investment platforms that lured them with promises of high returns. The alleged fraud is said to have been carried out through platforms including 'Boat Bro' and 'Mine Crypto'.

Bund Garden police have registered a case against more than 23 people in the matter. They include an alleged mastermind based in Dubai and directors of different companies operating in Pune and Satara. All of them are currently accused, and the allegations against them have not yet been proved.

Pratik Bhosale (25), a resident of Shetphal Garhe in Indapur taluka, filed the complaint with the police. The main accused has been identified as Lavish Chaudhary alias Nawab Ali. He lives in Al Barsha in Dubai and is originally from Muzaffarnagar in Uttar Pradesh.

According to the police, the alleged fraud took place between February 11, 2023 and March 31, 2026. The accused are alleged to have held meetings with prospective investors at a hotel opposite Pune railway station and near the Orchid Hotel in Baner. At these meetings, investment opportunities promising large returns in a short time were reportedly promoted.

The accused are alleged to have made Bhosale and his parents invest Rs 22.70 lakh in the company 'Boat Bro' by promising attractive profits. They are also alleged to have won the trust of 21 more investors and obtained crores of rupees in investments from them.

Investigators said the accused collected money in the bank accounts of shell companies through RTGS, NEFT, cash transactions and USDT cryptocurrency transfers. The investors allegedly did not receive their returns even after the stipulated investment period ended.

The total amount involved in the alleged fraud is estimated at Rs 14.71 crore. Police suspect that more investors may have been cheated through this network.

Considering the scale of the case, the investigation has been handed over to the Economic Offences Wing (EOW). Deputy Commissioner of Police Vivek Masal has appealed to investors who were cheated in the case to contact the Economic Offences Wing at the Pune Police Commissionerate. Assistant Police Inspector Dineshkumar Patil is conducting further investigation.