One of the accused allegedly posed as a Research and Analysis Wing (RAW) agent, police said on Monday. A Kolhapur-based construction family was allegedly duped of ₹ 18.50 crore by six people who promised huge returns from a rare material purportedly linked to nuclear technology.
He subsequently submitted bank statements, travel and hotel booking records, and a video to the police. The alleged fraud came to light in August 2025 after a family friend told Sumit about the scheme.
He also introduced Ghosh as a scientist associated with the International Atomic Energy Agency (IAEA), who could test the material and issue a certificate. The land was reserved and could not be sold. The alleged fraud began in 2021 when Prakash Patil introduced Andhalkar to the family, claiming he could help them acquire 27 gunthas of land belonging to the Koymar Trust in Kanan Nagar, Kolhapur, according to the complaint. Andhalkar allegedly collected ₹ 4.64 crore, promising to get it released. Between January 2022 and January 2024, the family transferred ₹ 1.56 crore to a Kolkata bank account allegedly belonging to Ghosh. Andhalkar also allegedly collected ₹ 12.50 crore in cash on multiple occasions in Pune towards testing, certification and international marketing. Two others transferred another ₹ 30 lakh to Andhalkar on the family’s behalf. The losses reportedly affected the family’s business and caused severe mental stress to Prakash Medshinge, who died on June 28, 2025.
He later told the family about a rare material that could fetch a huge price in the international market. Claiming to have worked with RAW, he allegedly said he had confidential information about it. The accused allegedly said specialised chemicals, protective suits and other equipment had to be imported from Germany for testing. The family raised the money by selling property, borrowing from acquaintances and taking loans, the complainant said.
A case was registered against the six accused at Karveer police station on October 13 under Sections 204, 205, 318(4), 319(2) and 3(5) of the Bharatiya Nyaya Sanhita (BNS). Further investigation is underway.
