Ashok Kharat's Rs 63 Crore Financial Fraud
Analysis based on 9 articles · First reported Apr 02, 2026 · Last updated Apr 03, 2026
The financial markets are negatively impacted by the revelation of large-scale fraud and potential money laundering, which can erode trust in cooperative credit societies. The involvement of high-profile individuals like Rupali Chakankar and the India===Enforcement Directorate highlights systemic risks and regulatory scrutiny.
Self-styled godman Ashok Kharat is under investigation for a massive financial scam involving over 130 accounts in two cooperative credit societies in India===Maharashtra, with transactions totaling nearly Rs 63 crore. These accounts were opened under various names, including that of the sister of former India===Maharashtra State Women's Commission chairperson Rupali Chakankar, who resigned due to alleged links with Ashok Kharat. The probe, initiated by India===Maharashtra Police in Ahilyanagar district, also involves a land-grabbing attempt in Shirdi by Ashok Kharat and his wife Kalpana Kharat, against whom a Lookout Notice has been issued. The India===Enforcement Directorate is expected to join the inquiry, given the scale of the alleged money laundering. Ashok Kharat faces at least 10 FIRs, including eight for sexual assault and two for cheating, and is currently in the custody of a India===Special Investigation Team.
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