Rs 64.8 Crore Turmeric Farming Scam Uncovered In Rajkot; Mastermind, Six Others Arrested

Rajkot: In a major breakthrough, the Crime Branch has exposed one of the biggest financial frauds in the city’s history, involving a multi-state gang that allegedly cheated local traders out of over Rs 64.8 crore through a fake turmeric farming investment scheme. The total liability, as per agreements signed with investors, is estimated to be over Rs 194 crore.

Nineteen people, primarily from Maharashtra, have been named as accused in the case. The scam dates back to 2017-18, when the group launched a company claiming to promote cultivation of Meghalaya’s premium-quality turmeric in other Indian states. The company attracted investments from several businessmen in Rajkot by offering promises of unusually high returns. Investors were told that the cost per acre was around Rs 4 crore, while the projected return was Rs 1.5 to 2 crore per acre, figures that lured many into parting with their money.

However, when the promised profits failed to arrive and communication with the company dried up, several investors filed complaints. Following a formal application to the Rajkot Police Commissioner, a full-scale investigation was launched.

Multiple Crime Branch teams were dispatched to Maharashtra, and on April 8, they arrested Pravin Vaman Pathare (39), Harshal Mahadevrao Oza (49), Vaibhav Vilasrao Kotlapure (49), and Hiren Dilipbhai Patel (37). These individuals were remanded in police custody until April 17. Soon after, police obtained transfer warrants and brought in Dr. Prashant Jhade, along with Sandesh Khamkar and Sandeep Samant, who were already incarcerated in Maharashtra in connection with other offenses. The three were remanded to the Rajkot Crime Branch until April 21 and have since been sent back to Maharashtra jail.

During interrogation, it was revealed that Dr. Jhade orchestrated the entire operation, launching the scheme with the intention of deceiving investors. Investigations also revealed that much of the turmeric farming never took place, and the majority of the funds were siphoned off. The Crime Branch has now intensified efforts to track down the remaining 12 absconding accused. Authorities are also working to identify if more investors were affected and whether the scam has links in other states.