Navsari Loan Fraud Exposed: ₹69.55 Lakh Cheating Case Shocks City (2026)
Banana Trader Duped of ₹69.55 Lakh in Navsari Loan Scam A major financial fraud has come to light in Navsari city, where a banana trader was allegedly cheated of ₹69.55 lakh under the pretext of securing large bank loans. The shocking case, registered at the Navsari Town Police Station, has once again raised serious concerns about the rising number of loan-related frauds in the district. According to the police complaint, two accused individuals allegedly hatched a criminal conspiracy and misused the names and properties of the complainant and another person to obtain multiple loans from different banks, eventually siphoning off the entire amount.
The complainant, Rajivkumar Rambahadur Verma, a resident of the Ramnagar area of Vijlapore and a banana trader by profession, stated that the accused lured him with promises of arranging high-value loans and financial benefits. The accused have been identified as Rajendra alias Raj Girdharbhai Solanki and Pradeep Ramcharan Mishra, associated with P.K. Consultancy. By projecting themselves as financial facilitators with strong banking connections, they allegedly gained the complainant’s trust and convinced him to participate in what appeared to be a legitimate loan arrangement.
As per the complaint, the accused first arranged for the transfer of an existing home loan on Rajivkumar Verma’s Ramnagar residence to Bank of Baroda. After completing the transfer, they managed to secure an additional loan of ₹6 lakh on the same property. The complainant was reportedly told that this restructuring would help him access more funds and improve his financial position. Trusting their assurances, he agreed to proceed.
The alleged fraud did not stop there. The accused then got two houses located in Amlasad registered in the complainant’s name. Using these properties as collateral, they obtained a loan of ₹30 lakh from UCO Bank. The complainant has stated that he was made to believe these transactions were part of a broader financial strategy and that the accused would handle repayments and documentation.
Further, the accused allegedly transferred ownership of a house near Navsari Tower, belonging to Rajendra Solanki, into the complainant’s name. On this property, a renewal loan of ₹13.55 lakh was taken. With this transaction, the total loan burden placed on the complainant’s name rose to ₹49.55 lakh. The complaint alleges that throughout this process, the accused maintained control over the loan amounts and diverted the funds for their own use.
In addition to the loans taken in the complainant’s name, the accused also allegedly obtained a loan of ₹20 lakh in the name of another person, Sureshbhai Rabari, who has been listed as a witness in the case. By combining the amounts taken in the names of Rajivkumar Verma and Sureshbhai Rabari, the total alleged fraud amounts to ₹69.55 lakh. The complaint states that the accused misappropriated the entire sum, leaving the complainant and the witness facing severe financial liability.
The fraud came to light when banks began pressuring the complainant and the witness to repay loan installments. Faced with unexpected demands for repayment and realizing that the promised arrangements were false, the victims understood that they had been deceived. Following this, Rajivkumar Verma approached the Navsari Town Police Station and lodged a formal complaint detailing the entire sequence of events.
Navsari police have registered a case and initiated an investigation into the loan fraud. Officers are now examining bank documents, property records, and financial transactions to trace the flow of funds and establish the roles of all involved parties. Police officials have indicated that the investigation is at an early stage and further details may emerge as inquiries progress.
One aspect of the case that has drawn significant attention is the background of one of the accused. Pradeepkumar alias P.K. Mishra, named in the complaint, had recently contested the Jalalpore Legislative Assembly election and is known as a prominent leader of the Aam Aadmi Party in the Navsari district. His alleged involvement has sparked discussions in political circles, adding another layer of sensitivity to the case.
This Navsari loan fraud case has once again highlighted the growing menace of financial scams involving loans, property transfers, and banking loopholes. In recent years, the district has witnessed a rise in such cases, often targeting businessmen and individuals who lack detailed knowledge of complex financial procedures. Police officials have noted that fraudsters frequently exploit trust, urgency, and the promise of easy money to trap victims.
Law enforcement agencies have appealed to citizens to remain cautious while dealing with loan offers, financial consultants, or intermediaries promising unusually high benefits. Police have advised people to independently verify documents, consult legal or financial experts, and avoid signing papers without fully understanding the implications. Authorities have stressed that awareness and due diligence are the most effective ways to prevent such frauds.
As the investigation continues, the Navsari loan fraud involving ₹69.55 lakh has become a strong reminder of the risks associated with unchecked financial dealings. For the complainant, the case represents not only financial loss but also emotional stress and uncertainty. For the wider public, it serves as a warning to remain vigilant and informed in all banking and loan-related matters.
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