Pune: ₹18 Crore Fraud Targeting Renowned Jeweller Busted; Three Arrested, Gold, Cash And Mercedes Seized
Pune: ₹18 Crore Fraud Targeting Renowned Jeweller Busted; Three Arrested, Gold, Cash And Mercedes Seized
Pune, April 27, 2026: In a major breakthrough, the Pune City Police Crime Branch has arrested three individuals involved in an alleged ₹18 crore fraud targeting a well-known jeweller in the city. The Anti-Extortion Cell (Unit 2) carried out the operation and recovered valuables worth over ₹5.24 crore, including gold ornaments, cash, and a luxury vehicle.
According to officials, the incident came to light during the jeweller’s annual audit conducted in March 2026. A stock verification revealed discrepancies of approximately 12,800 grams of gold ornaments along with a financial mismatch of ₹72 lakh. Upon internal inquiry, suspicion fell on an employee, identified as Prashant Kantilal Bermecha (61), a resident of Kondhwa.
Police investigations revealed that Bermecha allegedly misused his position and siphoned off gold jewellery and cash from the shop on Laxmi Road without the owner’s consent. He is accused of handing over the valuables to an associate, leading to criminal breach of trust and fraud.
A case was registered at Vishrambaug Police Station under relevant sections of the Bharatiya Nyaya Sanhita. Along with Bermecha, two others Ramakant Mahadev Parale (62) and Madhu alias Maheshwari Ramakant Parale (22), both residents of Kedgaon in Ahilyanagar district were named as co-accused. Another woman is also suspected to be involved.
During the course of investigation led by Police Inspector Ram Rajmane, the Crime Branch team traced the accused to Kedgaon. A raid at Parale’s residence led to the arrest of Bermecha, who had reportedly been staying there for over a month.
A search operation at the premises resulted in the seizure of 3.552 kg of gold ornaments worth approximately ₹3.90 crore, a mobile phone valued at ₹3.3 lakh, a Mercedes-Benz car worth ₹1.3 crore, and ₹80,000 in cash. The total value of seized property stands at ₹5.24 crore.
The operation was conducted under the guidance of senior Pune Police officials, including the Police Commissioner and Deputy Commissioner of Police (Crime). Further investigation in the case is ongoing.
