Mumbai Cyber Police Thwart ₹3.63 Crore Stock Market Scam, Arrest Two Individuals
The South Region Cyber Police in Mumbai have arrested two individuals in a stock market fraud case involving over ₹3.63 crore. The arrests were made on May 27, 2025, following a detailed investigation into the fraudulent activities.
Stock Market FraudCyber PoliceFinancial FraudMumbaiArrestsReal Estate MumbaiMay 28, 2025
The arrested individuals have been identified as Adnan Shamshuddin Khan (27), a real estate agent residing at JP North Celeste, Vinay Nagar, Kashimira, and Mohammed Tanveer Mohammed Imtiyaz Khan (31), a salaried employee residing at Gulshan Housing Society, Ram Mandir Station Road, Goregaon West.
The complainant was initially coerced into transferring ₹70 lakh on March 21, 2025, to an IndusInd Bank account. Further investigations revealed that ₹4.89 lakh was diverted on February 13, 2025, to another bank account. The money was subsequently withdrawn in cash through cheques by the account holder, Adnan Khan, who was traced and arrested from the Kashimira area.
In another instance, the complainant was pressured into transferring ₹19 lakh via four transactions on March 21, 2025, to another bank account. This amount was routed through multiple accounts, and the account was found to be in the name of CWFS Private Ltd., with its directors listed as Mohammed Tanveer Mohammed Imtiyaz Khan and Mohammed Sayed Mansoor Munawwar Ali.
Upon verification, the police discovered that no such company was operating at the registered address in Goregaon West. Tanveer was later located in the Goregaon area, taken into custody, and formally arrested. The investigation is ongoing, and the South Region Cyber Police Station is exploring further links to ensure a thorough and comprehensive probe.
The arrests are a significant step in combating financial fraud and protecting investors from such schemes. The South Region Cyber Police have been proactive in their efforts to trace and apprehend individuals involved in cyber crimes and financial fraud. The public is advised to remain vigilant and report any suspicious activities to the authorities immediately.
The case highlights the importance of due diligence and caution when dealing with financial transactions, especially in the stock market. Investors are urged to verify the legitimacy of companies and individuals before making any financial commitments. The ongoing investigation is expected to uncover more details and potentially lead to further arrests and the recovery of the defrauded funds.
Frequently Asked Questions
What was the total amount involved in the stock market fraud?
The total amount involved in the stock market fraud was over ₹3.63 crore.
Who were the individuals arrested in the fraud case?
The individuals arrested in the fraud case were Adnan Shamshuddin Khan and Mohammed Tanveer Mohammed Imtiyaz Khan.
When were the arrests made?
The arrests were made on May 27, 2025.
How was the money diverted in the fraud scheme?
The money was diverted through multiple bank accounts, with some amounts withdrawn in cash through cheques.
What is the current status of the investigation?
The investigation is ongoing, and the South Region Cyber Police Station is exploring further links to ensure a thorough and comprehensive probe.
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