The Thane Share Market Scam has intensified after allegations of a ₹500 crore investment fraud linked to high-return schemes. Individuals, including Sagar Subodh Karivadekar and others, have been named in investor complaints. Authorities are examining financial transactions, alleged fund routing, and operational structures following reported raids. While claims remain under investigation, the case highlights risks associated with unregulated investment schemes and the importance of due diligence in financial markets.

Thane Share Market Scam Under Lens: ₹500 Crore Alleged Fraud, Karivadekar Bungalow Raided, Investors Allege Massive Network

An alleged multi-crore share market scam has triggered police action and investor outrage, with claims of a ₹500 crore fraud network, high-return promises, and money trails linked to multiple individuals.

The Thane share market scam has taken a serious turn after enforcement action, including a reported raid at a bungalow linked to fraudster Sagar Subodh Karivadekar, intensified scrutiny around an alleged ₹500 crore fraud network.

According to investor allegations and local reports, thousands of individuals were drawn into a high-return investment scheme promising monthly returns of four to five per cent through share market-linked opportunities.

The scale of the alleged fraud, initially pegged at ₹185 crore, is now being claimed by affected investors to exceed ₹500 crore, raising concerns over a potentially large, organised financial network.

Raids, absconding accused and investor anger escalate

Karivadekar-linked property action triggers fresh questions

Local reports indicate that police conducted action at a bungalow associated with Sagar Subodh Karivadekar, intensifying focus on the alleged operational base of the investment scheme.

Investigators are also examining whether the accused moved locations following initial complaints, with some reports suggesting movement between Savantwadi and Thane during the unfolding probe.

Meanwhile, investors have publicly alleged that despite FIR registration, key accused individuals remain at large, raising serious concerns over the pace and depth of enforcement action.

Alleged fraudsters named as investors demand arrests

Alleged fraudsters Priti Rane, Sachin Rane and Karivadekar are facing direct allegations

At the centre of the controversy are alleged fraudster Priti Sachin Rane, alleged fraudster Sachin Balkrishna Rane, and alleged fraudster Sagar Subodh Karivadekar, all named in investor complaints.

According to statements presented in a press conference led by Manoj Pradhan, the accused allegedly built trust among Marathi-speaking investors through training programmes and personal outreach.

The model, as described by investors, involved creating confidence through structured sessions before directing funds into accounts linked to Karivadekar, forming the backbone of the alleged operation.

Inside the alleged investment trap

High-return promises, structured onboarding and financial layering

Investors claim they were lured with assurances of consistent monthly returns, often positioned as low-risk opportunities tied to share market trading expertise.

By December 2025, approximately 1,246 investors had reportedly been enrolled, collectively investing around ₹185 crore through what is now being described as a highly coordinated structure.

To reinforce credibility, a formal-looking agreement was allegedly executed, with alleged fraudster Sachin Balkrishna Rane signing in a guiding capacity, while funds were routed centrally.

Also Read: Fashion TV India Dispute: Fraud & hawala Allegations Surface.

Family-linked financial flows raise deeper red flags

₹32 crore traced to relatives, associates and close network

Documents presented by investors suggest that significant portions of funds were allegedly transferred to relatives and associates of the accused, pointing to possible financial layering.

Among those named are Naresh More, Rekha N. More, Sandeep Kudtarkar, Saroj Kudtarkar, Swarup Kudtarkar, Suhas B. Rane, Tanvi Surve, and Shreyas Kerkar.

The figures cited include ₹2.76 crore to Naresh More, ₹5.83 crore to Rekha N. More, ₹4.56 crore to the Kudtarkar family, and ₹10.13 crore to Sachin Balkrishna Rane.

Additional alleged transfers include ₹4.73 crore to Priti Sachin Rane, ₹48.30 lakh to Suhas B. Rane, ₹63.17 lakh to Tanvi Surve, and ₹2.97 crore to Shreyas Kerkar.

FIR filed, but enforcement under scrutiny

Economic Offences Wing action questioned by investors

The Thane Economic Offences Wing registered an FIR on 25 February 2026 against Sachin Balkrishna Rane and Sagar Subodh Karivadekar, marking the first formal step in the investigation.

However, investors allege that both individuals remain absconding, while no confirmed legal action against Priti Sachin Rane has been publicly detailed, raising questions on enforcement consistency.

Representatives led by Manoj Pradhan have demanded immediate arrests, attachment of properties, and expansion of the probe to include all beneficiaries identified in financial records.

Scale of alleged fraud points to systemic gaps

₹500 crore claim raises regulatory and oversight concerns

The widening gap between recorded investments and claimed total fraud exposure suggests that the network may extend beyond initial estimates, potentially involving layered transactions and multiple entry points.

The case also highlights vulnerabilities in informal investment ecosystems, where training programmes and trust-based networks can be used to build credibility before large-scale fund mobilisation.

What happens next in the Thane share market scam probe

Investigation enters high-stakes phase amid mounting pressure

As Sprouts News understands, all allegations remain under investigation and have not yet been tested in court, with authorities expected to verify financial trails and examine the roles of all named individuals.

The coming weeks are likely to be crucial as investigators assess documentary evidence, track fund flows, and determine whether the alleged ₹500 crore network reflects a wider systemic operation.

With raids, financial trails, and investor testimonies converging, the Thane share market scam is rapidly evolving into a high-impact investigation that could redefine accountability in large-scale retail investment fraud cases.

Readers’ Appeal

Unmesh Gujarathi, an investigative journalist, has exposed the share market scam through sustained reporting and evidence-based investigations, bringing critical details into the public domain. Citizens, investors, and insiders with credible information are encouraged to come forward and support transparency. If you have documents, leads, or firsthand accounts related to this case or similar frauds, you can confidentially share them with the investigation team at 9322755098.