Mumbai: The South Region Cyber Police have arrested two individuals in connection with a stock market fraud case involving the cheating of over ₹3.63 crore. The arrests were made on May 27, 2025, following a detailed probe of FIR registered under sections 318(4), 319(2), 336(2), 336(3), 340(2), 61(2) of the BNS and Section 66 (a)(d) of the IT Act.
Arrested Accused identified as Adnan Shamshuddin Khan (27) – A real estate agent residing at JP North Celeste, Vinay Nagar, Kashimira, Mohammed Tanveer Mohammad Imtiyaz Khan (31) – A salaried employee residing at Gulshan Housing Society, Ram Mandir Station Road, Goregaon West.
The complainant was coerced into transferring ₹70 lakh on March 21, 2025, to an IndusInd Bank account. From this, ₹4.89 lakh was diverted on February 13, 2025, to other Bank account. Investigations revealed that the money was withdrawn in cash through cheques by account holder Adnan Khan, who was later traced and arrested from the Kashimira area.
In another instance, the complainant was again pressured into transferring ₹19 lakh via four transactions on March 21, 2025, to other Bank account. The amount was further routed through multiple accounts. This 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, police found no such company 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 further links are being explored by the South Region Cyber Police Station.
