An alleged investment fraud in Maharashtra has triggered public outrage after accused individuals continued moving freely despite a registered FIR. Over 1,246 investors claim losses of ₹182 crore and fear evidence tampering as arrests remain pending. Complaints have been submitted to multiple police units, including the EOW. The case has raised serious questions about enforcement delays, investor protection, and whether financial crime cases are being handled with urgency.
Alleged Investment Fraud Maharashtra Raises Alarm as Accused Roam Free Despite FIR
Unmesh Gujarathi, investigative and senior journalist, has exposed a massive alleged investment fraud in Maharashtra, revealing how accused individuals continue roaming freely despite an FIR, intensifying investor anger and scrutiny of enforcement agencies.
Alleged investment fraud Maharashtra has escalated into a credibility crisis as alleged fraudster Rane couple and partner in crime Sagar Karivdekar continue roaming freely despite a registered criminal case.
This controversy involves alleged fraudster Preeti Sachin Rane, alleged fraudster Sachin Balkrishna Rane, and partner in crime Sagar Subodh Karivdekar, accused of cheating over 1246 investors of Rs 182 crore.
The amount is based on prima facie assessments shared with police, indicating one of Maharashtra’s alleged investor fraud cases in recent years, involving complex fund movements and multiple collection points.
An FIR numbered 0017 of 2026 was registered on 5 January 2026 at Amboli Police Station, clearly naming all three accused in the alleged financial fraud.
Following the FIR, affected investors also submitted complaints to Thane Town Police and the Thane Economic Offences Wing, demanding immediate arrests, custodial questioning, and freezing of suspected bank accounts.
Despite these formal steps, alleged fraudster Rane couple and partner in crime Sagar Karivdekar remain openly mobile, triggering anger among investors who fear evidence destruction and fund diversion.
Several investors told Sprouts News that daily sightings of the accused undermine confidence in law enforcement, especially when ordinary citizens face swift arrests for far smaller financial disputes.
Maharashtra Investment Fraud Case Questions Why Arrests Are Missing
Why no arrests have followed remains the central question, with legal experts pointing to delays in preliminary scrutiny, inter department coordination gaps, and cautious approaches in value white collar investigations.
Under Indian criminal procedure, police can arrest without warrant in cognisable offences, yet investigators often hesitate in financial crimes citing document volume, transaction tracing, and legal vetting requirements.
Critics argue such caution becomes excessive when FIRs exist and Investors Volume exceed a thousand, creating perceptions of selective enforcement and weakening deterrence against organised investment fraud networks.
The controversy deepened on 19 January 2026 when alleged fraudster Rane couple filed a complaint against their partner in crime Sagar Karivdekar, attempting to shift sole liability.
Investigators and investors note that such blame shifting after registration of an FIR often signals defensive legal positioning rather than cooperation, especially when earlier complaints describe joint roles.
Another flashpoint emerged during an 8 February 2026 meeting, where alleged fraudster Sachin Rane claimed Karivdekar’s lawyer promised repayment once bank accounts were unfrozen officially.
Investors dismiss these assurances as time buying tactics, warning that post FIR settlement talk without court oversight frequently precedes asset dissipation and prolonged recovery battles.
Also Read: Thane EOW probe flags tax gaps in investment scam case.
Related News: ₹180 Cr Stock Market Scam: Thane Couple Under EOW Probe.
Investor Protection Concerns as Alleged Fraudsters Remain Free
The larger concern is accountability, as continued freedom of alleged fraudster Rane couple and partner in crime Sagar Karivdekar risks normalising delays in economic crime enforcement.
Policy analysts warn that failure to act swiftly erodes investor confidence, encourages repeat offences, and complicates future prosecutions through evidence loss and witness fatigue nationwide.
Former enforcement officials say arrests in such cases serve investigative purposes, enabling custodial questioning, coordinated searches, and deterrent signalling to similar operators across Maharashtra statewide.
For affected families, the delay has personal consequences, as life savings meant for education, housing, or healthcare remain trapped while accused individuals continue normal public lives.
A spokesperson associated with Sprouts News Special Investigation Team said the case highlights urgent need for transparent timelines, public updates, and decisive action in high value fraud investigations.
Until arrests occur, investors argue justice remains incomplete, and the spectacle of alleged fraudster Rane couple and partner in crime Sagar roaming free will continue haunting Maharashtra’s financial landscape.
“One voice can stop a thousand scams.”
If you’re experiencing fraud or scams, call 9322755098. Stand up, speak out, and help make society safer.
