Mumbai Cyber Police Bust Online Trading Scam
Two Arrested in Rs 3.6 Crore Fraud Case
Mumbai’s Cyber Police have made a significant breakthrough. They arrested two individuals linked to a cyber fraud gang. This gang deceived an accountant into investing in online share trading, resulting in a loss of Rs 3.63 crore.
The Arrests
The South Cyber Police are leading the investigation. On Tuesday, they arrested two men:
- Adnan Shamshuddin Khan, a 27-year-old real estate professional
- Tanveer Khan, a 31-year-old employee of a private company
These individuals are accused of deceiving victims. They convinced victims to transfer large sums of money. The money was then moved through various bank accounts before being taken for themselves.
The Scam
The victim was added to a WhatsApp group named “UCIP GANPATI TRADE GROUP”. In this group, administrators and members posed as successful investors and stock traders.
Over time, they gained the victim’s trust. They showed fake profit screenshots and convinced him to invest large sums. The investment appeared to be on a legitimate trading platform.
The victim deposited a total of ₹3.63 crore into various bank accounts linked to the accused.
The Investigation
The fraud was uncovered when the victim reported an issue. He was forced to transfer ₹70 lakh to an IndusInd Bank account on March 21, 2025.
The police discovered that ₹4.89 lakh was transferred from this account to an Axis Bank account. The money was then withdrawn in cash via cheque. The Axis Bank account was linked to Adnan Shamshuddin Khan, who was arrested from his home in Kashimira.
In another transaction, the victim transferred ₹19 lakh through four separate payments to another Axis Bank account on the same date.
The police found that this account belonged to a firm named CWFS Private Ltd, supposedly based in Goregaon West. However, the company did not exist at its registered address. The account was operated by Tanveer Khan.
The Method
The accused used fake companies and multiple banking transactions to hide and launder the money.
The police are searching for more suspects, including Syed Mansur Munawwar Ali, the second director of the fake company.
Stay Safe
Be cautious with online investments. If something seems too good to be true, it probably is. Always verify the details before investing your hard-earned money.
