According to investigators, Pawar arrived in Raipur about six months ago seeking employment in the finance sector and harboured plans to open a mobile phone shop. Facing financial constraints, he allegedly exploited the trust of street vendors and small traders operating along MG Road by posing as a facilitator for bank loans, cashbacks and investment apps.
Police said Pawar befriended vendors, initially helping them earn small profits through online applications to build credibility. He then persuaded victims to install banking and finance apps on their phones, collected sensitive documents including Aadhaar and PAN cards, and accessed their devices. Using pre-approved loan features across multiple financial platforms, he allegedly sanctioned loans without the victims’ informed consent and transferred the proceeds to accounts under his control.
The fraud came to light after complaints were filed by affected traders. Among the victims, Dalaut Kushwaha, a street food vendor, reported losses exceeding ₹4 lakh, while others—including Abdul Hannan, Siraj Solanki and Rozina Solanki—reported losses ranging from ₹80,000 to ₹6 lakh. In several cases, victims were left servicing loan EMIs despite never receiving the funds.
Investigators confirmed that the loans were channelled through UPI and bank transfers shortly after disbursal. During questioning, Pawar allegedly admitted to operating without maintaining transaction registers or following guidelines applicable to financial facilitation. Police seized multiple bank cards, credit cards, passbooks, cheque books and mobile phones from his possession.
Officials said the accused cited family financial distress following the pandemic as the motive and claimed the proceeds were intended to set up a mobile shop in Chhindwara. An ACP overseeing the probe said further investigation is underway to identify additional victims and to assess whether any accomplices or fintech vulnerabilities were involved.
Police have urged the public, particularly small traders, to avoid sharing personal documents, app access or passwords, and to verify loan applications directly with banks. Authorities said enforcement against mule accounts and digital fraud will be intensified to prevent similar cases.
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