NCP Faction Accuses Thane Police of Delayed Action in Major Stock Market Scam
The Nationalist Congress Party (Sharadchandra Pawar faction) has leveled serious allegations against the Thane Police, claiming they have failed to apprehend the primary suspects in a massive stock market fraud case. This case involves an estimated sum of nearly Rs 185 crore and has reportedly affected over 1,000 investors.
Details of the Alleged Fraud Scheme
According to the NCP's district president, Manoj Pradhan, the key accused—identified as Sachin Balkrishna Rane, Sagar Karivdekar, and Preeti Rane—are currently absconding. The trio allegedly orchestrated a sophisticated investment scam targeting Marathi-speaking individuals.
The modus operandi involved:
- Conducting stock market training sessions in Marathi to attract potential investors.
- Promising assured monthly returns of 4-5% to entice participants.
- Instructing investors to route their funds through accounts controlled by Sagar Karivdekar.
By December 2025, approximately 1,246 investors had poured nearly Rs 185 crore into the scheme. Although formal agreements were executed, the funds were allegedly diverted to accounts belonging to the accused and their relatives. Pradhan further claimed that over Rs 32 crore was specifically siphoned off to family members and close associates of the accused.
Police Response and Legal Complexities
In response to the allegations, Deputy Commissioner of Police Parag Manere stated that the main accused are absconding and that active efforts are underway to trace them. He also noted a significant legal complication: Preeti Rane recently delivered a baby, which may influence the timing and nature of legal proceedings.
"Appropriate legal action will be taken as per the law," Manere assured, emphasizing that the police are following due process despite the challenges posed by the suspects' evasion and personal circumstances.
The NCP faction's accusations highlight growing concerns about investor protection and law enforcement efficacy in financial fraud cases, particularly those involving large sums and vulnerable populations. The case underscores the need for vigilant regulatory oversight and prompt police action to prevent such schemes from proliferating.
