Thane couple accused of running ₹180 crore Ponzi scheme in Mumbai

A major investigation is currently underway in Maharashtra, specifically in Thane, into a massive stock market investment scam, potentially amounting to a staggering Rs 180 crore. The alleged masterminds behind this elaborate scheme include Priti Rane, her husband Sachin Rane, and Sagar Karivdekar, who have left thousands of investors reeling in the aftermath.

Numerous complaints from distressed investors prompted the Economic Offences Wing (EOW) to delve into the matter. Their preliminary findings point towards a colossal scam involving significant sums of money, far surpassing the initial estimate of Rs 180 crore.

The intricate web of deceit spun by the accused trio targeted unsuspecting investors, promising substantial monthly returns ranging from 4–5%, thereby enticing many individuals to invest their hard-earned money. Similar scripts played out for each victim—initial investment, promising returns for a brief period, followed by an abrupt halt in payments, a typical Ponzi scheme pattern.

One such victim, Abhijeet Sawant, narrated his ordeal after investing Rs 5 lakh, induced by the allure of a monthly 4% return on his investment. He narrated how payments ceased after two months, raising red flags and prompting him to question the credibility of the scheme.

Narayan Malusare shared a similar sentiment, having invested Rs 9 lakh in September 2023, and receiving returns until May 2025 when payments mysteriously ceased. The narrative was further complicated by Rane attributing the disappearance of funds to Karivdekar, raising uncertainties and casting doubts on the authenticity of the operation.

A visit to Karivdekar’s residence in Sindhudurg revealed a fleet of opulent vehicles, portraying a facade of affluence that starkly contrasted with the situation faced by numerous investors grappling with unpaid dues. The tale of luxury cars and missing funds left investors disillusioned and seeking restitution for the losses they had incurred.

Further scrutiny revealed a seemingly deceptive document where Priti and Sachin Rane purportedly acknowledged their liabilities, totaling an astonishing Rs 180 crore owed to 1,246 investors. The exposed facade of deception began to crumble as investors demanded accountability and recompense for their investments.

A facade of legitimacy was attempted by the accused, with Priti Rane claiming registration with the Securities and Exchange Board of India (SEBI). However, a thorough check revealed a glaring absence of her name or the affiliated firms mentioned in official SEBI records, further shattering the illusion spun by the fraudsters.

The story of shattered promises, lost investments, and disillusioned victims unfurled as investors sought to reclaim their money, desperately hoping for a resolution to the financial nightmare inflicted upon them by the perpetrators of this elaborate Ponzi scheme.