The Panvel Cyber Cell team successfully arrested Zubair Shamshad Khan, accused of duping a 53-year-old homemaker from Kharghar of over Rs 1.03 crore in a cryptocurrency investment scam. The fraudster was apprehended from Mumbra, Thane.
According to SI Dipali Patil, the complainant first contacted Khan in 2020 after seeing a Facebook post where he promised guaranteed high returns on crypto investments. Claiming to operate from Dubai, Khan used a fake photo to mislead her. Initially, the woman invested a small amount, and to build trust, Khan even transferred Rs 3.50 lakhs to her account as “profits.”
Over time, the woman invested Rs 78.82 lakhs, believing in the fake profit updates Khan sent via WhatsApp. When Khan stopped providing updates, she filed an FIR in May at Kharghar police station. Further investigation revealed she had invested Rs 1.03 crore in total.
Using digital surveillance, including tracing Khan’s IP address and mobile tower data, the police tracked and trapped him in Mumbra. Khan has since confirmed the amount involved.
The Panvel Cyber Cell continues investigation as more victims may surface.
