Dattatray Phuge, a businessman from Pune, who rose to fame few years ago for his Rs 1.27 crore “gold shirt” weighing about 3.5 kgs, was killed on late Thursday night at Bharatmatanagar in Dighi.

The 48-year-old businessman was murdered in front of his son, by unidentified miscreants who attacked him with stones and sharp weapons, reported Hindustan Times. “At least 12 persons attacked Phuge in an open ground in the Dighi area of Pimpri-Chinchwad at around 11:30 PM last night with stones and a sharp weapon, killing him on the spot.”

“As per preliminary information, Phuge and his son were invited by one of the suspects, who know each other, to celebrate a birthday. However, we are investigating that how Phuge reached the open ground where he was murdered,” Dighi police station inspector Navnath Ghogare said.

Phuge’s 22-year-old son witnessed his father’s murder but was spared by the attackers, police said.

Datta Phuge was reportedly into money lending and chit fund business. Police suspect that some dispute over financial “irregularities” could be the reason behind the murder.

“We have detained four persons including Phuge’s relative and suspect that dispute over a money transaction between them could be the motive behind his murder,” said Ghogare.

Datta Phuge’s wife Seema was an ex-corporator from the Nationalist Congress Party. The couple used to run the Vakratund Chit Fund Pvt Ltd. According to Hindustan Times, Seema Phuge was dismissed from her post after it was found that she submitted a fake caste certificate. Datta Phuge was also planning to contest in the next Assembly elections.