Pune police have registered a case against 23 people, including a Dubai-based alleged mastermind, promoters and company directors, over an alleged ₹14.70 crore fraud linked to AI bot trading and cryptocurrency investments. The case concerns 21 investors from Pune, Mumbai, Satara and Baramati whose money is reported to be blocked.
The case was registered at Bund Garden police station under the Maharashtra Protection of Interest of Depositors Act. According to the complaint, investors were promised monthly returns of between 6% and 50% through the ‘Bot Bro’ platform and related companies. The accused allegedly promoted AI bot trading and TLC cryptocurrency as ways to generate high profits.
The complaint was filed by Pratik Changdev Bhosale, 25, from Shetphal Gadhe in Indapur taluka of Pune district. Bhosale was preparing for competitive examinations when he met accused Umesh Jarg, who allegedly introduced him to the investment schemes. Promotional seminars were held at hotels in Baner, Wakad and other parts of Pune, including Orchid Hotel, TipTop and Hilton.
Bhosale allegedly invested ₹22.70 lakh from his own and his parents’ bank accounts, as well as in cash. When the promised returns did not arrive and the invested money could not be withdrawn, the alleged fraud came to light. The Economic Offences Wing’s preliminary inquiry found that the total amount linked to 21 key investors was ₹14.70 crore.
The complaint further alleges that the companies changed their names and digital identities after the Enforcement Directorate took action against ‘Bot Bro’ in February 2025. Following that action, investors were allegedly prevented from withdrawing their money. New websites and domains were then created under names including ‘Bot Alpha’, ‘Cross Market’ and ‘Mine Crypto’, according to the report.
Investors were allegedly told to make fresh investments to recover amounts placed in earlier schemes. The inquiry also found that the main promoters had travelled to Dubai and Saudi Arabia, according to the complaint and preliminary investigation details cited in the report. The case names Lavish Choudhary, Vijay Narayan Naidu, Rajnandini Naidu, Kunal Khedkar, Vaishali Khedkar, Umesh Jarg, Dnyaneshwari Jarg, Sahil Dhumal, Sameer Kate, Shailesh Kanav, Pramod Kadam, Bharatkumar Solanki, Popat Chorge and Lalit Prajapati, along with members of the boards of the related companies.
Police Sub-Inspector Reshma Sambhaji More is investigating the case. The police investigation will determine the financial trail, the roles of the named individuals and the extent of losses among investors.
