Pimpri Chinchwad: Police have arrested three loan recovery agents in connection with a financial fraud involving Shashank Hagawane and his mother Lata Hagawane, both previously booked for cheating and criminal intimidation. The Hagawanes are also under investigation in a separate high-profile case involving the death of Shashank’s wife, Vaishnavi Hagawane.
The current FIR was registered based on a complaint by Prashant Yelwande, a farmer from Nigoje village, who stated that in March 2022, he purchased a JCB machine from the Hagawanes for ₹24 lakh. The machine carried an outstanding loan of ₹19 lakh, and Yelwande paid ₹5 lakh in advance, agreeing to pay ₹50,000 monthly towards the loan balance.
However, despite Yelwande having paid ₹6.7 lakh by August 2024, the Hagawanes allegedly failed to apply the payments toward the loan. Without any formal instruction from the bank, three men — identified as Yogesh Raskar (25), Ganesh Potle (30), and Vaibhav Pingle (27) — allegedly seized the JCB and returned it to Shashank Hagawane. Police confirmed that the trio had no legal authority to do so.
Deputy Commissioner of Police Shivaji Pawar confirmed the arrests and stated that the recovery agents acted unlawfully. Further legal action is underway.
Yelwande also alleged that when he demanded the return of his money — a total of approximately ₹11.7 lakh — Shashank threatened him at gunpoint. This prompted additional criminal charges against Shashank.
Meanwhile, Shashank and his mother Lata are already embroiled in the case surrounding the alleged dowry death of Vaishnavi Hagawane, Shashank’s wife. Vaishnavi, who was the daughter-in-law of expelled NCP leader Rajendra Hagawane, died by suicide last month. Her father, Anil Kaspate, lodged a complaint alleging that Vaishnavi was subjected to mental and physical abuse and was harassed for a dowry of ₹2 crore to purchase property. He also alleged that her body bore suspicious injury marks.
The investigation into both cases remains ongoing.
