Mumbai’s South Cyber Police have arrested two individuals in connection with a high-value cyber fraud case. Adnan Shamshuddin Khan, 27, a real estate professional, and Tanveer Khan, 31, an employee of a private firm, were taken into custody for duping an accountant of Rs3.63 crore through a fake online share trading racket.
The victim was lured into a WhatsApp group named “UCIP GANPATI TRADE GROUP”, where members pretended to be successful investors. Using convincing screenshots and ongoing interactions, they built the victim’s trust and manipulated him into transferring large amounts under the illusion of profitable investments.
The funds were funneled through multiple bank accounts. A police investigation found that Rs4.89 lakh was moved into an Axis Bank account, later withdrawn via cheque. This account was traced back to Adnan Khan, who was arrested from his Kashimira residence.
Additionally, Rs19 lakh was sent to another Axis Bank account held by a non-existent company, CWFS Private Ltd, supposedly located in Goregaon West. Tanveer Khan operated this account.
Authorities suspect the use of shell companies and layered banking to conceal the illicit funds. Investigations are ongoing to locate other suspects, including Syed Mansur Munawwar Ali, believed to be the second director of the bogus firm.
