MUMBAI: The Cyber Police have arrested a real estate professional and an employee of a private company who were part of a cyber fraud gang that induced an accountant to invest in online share trading and duped him of Rs 3.63 crore.
The South Cyber Police, which is probing the case, arrested Adnan Shamshuddin Khan (27), a real estate professional, and his accomplice Tanveer Khan (31) on Tuesday. They are accused of manipulating victims into transferring large sums under false pretenses and channeling the money through various bank accounts before siphoning it off.
The complainant was added to a WhatsApp group named “UCIP GANPATI TRADE GROUP”, where so-called administrators and members posed as successful investors and stock traders. Over time, they gained his trust through regular interactions and screenshots of alleged profits, convincing him to invest large sums in what appeared to be a legitimate trading platform. Funds totaling ₹3.63 crore were deposited into various bank accounts linked to the accused.
The fraud came to light when the complainant reported that he had been coerced into transferring ₹70 lakh to an IndusInd Bank account on March 21, 2025. A further probe revealed that ₹4.89 lakh was subsequently transferred from this account to an Axis Bank account, from where it was withdrawn in cash via cheque. The Axis Bank account was traced to Adnan Shamshuddin Khan, who was arrested from his residence in Kashimira.
In a related transaction, the complainant also transferred ₹19 lakh through four separate payments to another Axis Bank account on the same date. Investigations revealed that this account belonged to a firm named CWFS Private Ltd, allegedly operating out of Goregaon West. However, the company was found to be non-existent at its registered address. The account was being operated by Tanveer Khan.
The accused are believed to have used fictitious companies and layered banking transactions to disguise and launder the fraudulent proceeds. Efforts are underway to trace additional suspects, including Syed Mansur Munawwar Ali, the second director of the fake company.
The South Cyber Police, which is probing the case, arrested Adnan Shamshuddin Khan (27), a real estate professional, and his accomplice Tanveer Khan (31) on Tuesday. They are accused of manipulating victims into transferring large sums under false pretenses and channeling the money through various bank accounts before siphoning it off.
The complainant was added to a WhatsApp group named “UCIP GANPATI TRADE GROUP”, where so-called administrators and members posed as successful investors and stock traders. Over time, they gained his trust through regular interactions and screenshots of alleged profits, convincing him to invest large sums in what appeared to be a legitimate trading platform. Funds totaling ₹3.63 crore were deposited into various bank accounts linked to the accused.
The fraud came to light when the complainant reported that he had been coerced into transferring ₹70 lakh to an IndusInd Bank account on March 21, 2025. A further probe revealed that ₹4.89 lakh was subsequently transferred from this account to an Axis Bank account, from where it was withdrawn in cash via cheque. The Axis Bank account was traced to Adnan Shamshuddin Khan, who was arrested from his residence in Kashimira.
In a related transaction, the complainant also transferred ₹19 lakh through four separate payments to another Axis Bank account on the same date. Investigations revealed that this account belonged to a firm named CWFS Private Ltd, allegedly operating out of Goregaon West. However, the company was found to be non-existent at its registered address. The account was being operated by Tanveer Khan.
The accused are believed to have used fictitious companies and layered banking transactions to disguise and launder the fraudulent proceeds. Efforts are underway to trace additional suspects, including Syed Mansur Munawwar Ali, the second director of the fake company.
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