Nagpur: A glitzy promise of “quick and guaranteed returns” has turned into financial ruin for thousands, as a Nagpur-based couple allegedly masterminded a Rs 50-crore multi-state investment fraud under the banner of Dollar Pay.
Sakkardara police have booked Shubham Ambadas Patil and his wife Neeta Patil of Manav Shakti Nagar, Bahadura, along with their associates Vilas Netaji Jhodge and Amar Bhagwan Panasok, both from Wathoda, under charges of cheating and provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act.
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02 Aug 2025
The anatomy of a scam
Launched in 2023, Dollar Pay appeared to be a slick investment platform fronted by an American woman, “Miss Sarah Crawford,” introduced online as the company’s global representative. Operating from rented rooms in a Ganeshpeth hotel, the Patil couple rolled out schemes promising returns from as little as Rs 7,000 to as high as Rs 10 lakh, depending on the investment tier.
The modus operandi followed a classic chain system: Early investors were paid back half their investment to build credibility, then incentivised to rope in more people. On-time payouts and flashy marketing fuelled the frenzy, spreading the scheme beyond Nagpur to Goa, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Rajasthan, and Delhi. Big investors were lured with promises of land plots and luxury perks.
But by early 2024, payouts slowed, then stopped altogether. Under pressure from enraged investors, the couple and their aides vanished around six months ago.
The fallout
The fraud came to light when a victim, Sandeep Meshram of Wathoda, lodged a complaint with Sakkardara police. Investigators say nearly 100 victims have already reported losses exceeding Rs 3 crore, but the total fraud in Nagpur alone could cross Rs 50 crore, with over 35,000 people connected through community groups. Cases in other states are expected to follow as more victims step forward.
From bar waiter to Dubai properties
Police sources revealed that mastermind Shubham Patil, once a bar waiter, is a repeat offender with previous cheating cases. Using the ill-gotten wealth, he allegedly purchased properties worth Rs 50 crore in Dubai and invested heavily in a construction project in Besa. His wife Neeta allegedly intimidated investors, threatening them with false police complaints if they demanded refunds.
Dreams shattered
The human toll is severe. Many small investors, who poured in life savings and convinced relatives to join, are now drowning in debt and harassment from those they recruited. “I brought in my family members. Now they’re blaming me for their losses,” said one distraught victim. Police sources warn that several victims are reportedly on the verge of suicide due to mounting financial and social pressure.
