6 days ago
Two Men Arrested In Pune Cyber Fraud Bank Account Case
Police in Pimpri-Chinchwad arrested two men in a case involving alleged online investment fraud.
A senior citizen reportedly lost ₹8.6 crore after being promised large profits from share-market investments.
Police said ₹5 lakh reached a bank account linked to one of the arrested men.
Investigators believe the account was given to people involved in cybercrime.
Police allege the two men met in Yerawada Jail and later used their contacts to find more bank accounts.
They say eight accounts may have been arranged for fraudulent transactions.
Two companies were also allegedly created or used to open additional current accounts.
Police are still tracing the money and looking for other people involved.
Pimpri-Chinchwad Cyber Crime Police arrested two men accused of arranging bank accounts for online fraud.
The arrests followed an alleged ₹8.6 crore share-market investment fraud targeting a senior citizen.
Police said ₹5 lakh from the allegedly defrauded money entered Tejas Lokhande’s IndusInd Bank account on July 14, 2026.
Investigators allege Lokhande and Avinash Baklikar developed criminal contacts in Yerawada Jail and arranged eight bank accounts.
Police are examining transactions, investigating two companies allegedly used to open current accounts, and searching for other suspects.
- Who
- Pimpri-Chinchwad Cyber Crime Police arrested Tejas Gyanoba Lokhande and Avinash Gyanoba Baklikar; the alleged victim was a senior citizen.
- What
- The men are accused of helping a cybercrime network obtain bank accounts for online fraud linked to an alleged ₹8.6 crore investment scam.
- Where
- The case was registered at Pimpri-Chinchwad Cyber Police Station, with the suspects traced to Markalgaon in Pune and Latur district.
- When
- Police said ₹5 lakh entered an account linked to Lokhande on July 14, 2026; the arrests followed during the investigation.
- Why
- Police allege the accounts were arranged to receive and move money connected with cyber fraud.
Key facts
- Alleged victim's loss
- ₹8.6 crore
- Arrested suspects
- Tejas Gyanoba Lokhande, 24, and Avinash Gyanoba Baklikar, 28
- Money traced
- ₹5 lakh was transferred to an IndusInd Bank account registered in Lokhande’s name
- Transfer date
- July 14, 2026
- Accounts allegedly arranged
- Eight bank accounts
- Companies named in investigation
- SUSTAINBLOCK CONSTRUCTION PVT LTD and STRUNOVA PVT LTD
- Legal provisions
- Various sections of the Bharatiya Nyaya Sanhita and Sections 66C and 66D of the Information Technology Act
Sources
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