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Serial Fraudster Arrested in Pune After Duping Fashion Designer of ₹1.66 Crore

In recent years, India has witnessed a surge in financial fraud cases, with scammers using deceptive business deals to lure victims. One such case recently came to light when a fashion designer fell prey to a gold trading scam, losing a staggering ₹1.66 crore.

A 33-year-old man, who was hiding in Pune after returning from Dubai six months ago, has been arrested for allegedly duping a fashion designer of ₹1.66 crore on the pretext of providing her gold and helping her open a boutique in Dubai. The 40-year-old fashion designer came in contact with the accused, identified as Mukesh Suryavanshi, four years ago. Suryavanshi had claimed that he had a trading company that imported gold coins from Dubai for sale in India. “Both of them decided to meet for business in August 2019 at a coffee shop in Mahim,” said police inspector Dinesh Dahatonde of the Mahim police station. Due to lockdown, the victim was stuck in Dubai and she returned to India at the end of 2020. After that, Suryavanshi started avoiding her calls or always made excuses to return her money later. When she realised that she had been duped, she filed a case in September 2021 with Mahim police station.

“We were searching for him and recently got a tip-off and arrested him from a three-star hotel in Pune on March 28. We have seized his mobile phone and laptop. He is currently in police custody,” added Dahatonde. The accused has duped several other people in Mumbai and five cheating cases are registered against him at Khar, Santacruz police stations and Thane.

A History of Fraud

Suryavanshi is not a first-time offender—he has duped several other victims in Mumbai, and five cases of cheating have been registered against him at Khar, Santacruz, and Thane police stations. His repeated fraudulent activities suggest he is a serial scammer who specifically targets individuals looking for investment opportunities.

Lessons & Warnings

This case serves as a critical reminder to conduct thorough background checks before making large financial transactions, especially in gold trading or international business ventures. Fraudsters often build trust over years before executing scams. Victims should always verify business credentials, cross-check legal documents, and avoid making large payments without proper agreements.

With an increasing number of financial fraud cases, law enforcement agencies are urging citizens to be vigilant and report suspicious business deals immediately.