Navi Mumbai News: 34-Year-Old Cyber Fraudster Arrested For Duping Kharghar Woman Of ₹1.03 Crore In Cryptocurrency Investment Scam

Navi Mumbai: A 34-year-old cyber fraudster, Zuber Shamshad Khan, was arrested from Mumbra by the Panvel Cyber Cell for allegedly cheating a 53-year-old woman from Kharghar of Rs 1.03 crore under the pretext of cryptocurrency investments. The accused lured the victim by promising high returns and is suspected to have duped several others in similar scams.

According to the police, Khan had posted an advertisement on Facebook in 2020 offering opportunities to earn money through crypto investments. Drawn by the ad, the woman contacted him and was instructed to download apps like 'The Champ Coin' and 'Binance', through which he convinced her to invest in various crypto tokens.

Between October 3, 2020, and March 25, 2025, the woman transferred Rs 1.03 crore to Khan’s various bank accounts—money sourced from the sale of her house and her father's retirement savings. However, she received only Rs 3.51 lakh in return. When she demanded the rest, Khan allegedly threatened her, saying she would need to pay another Rs 26.7 lakh to recover her money.

Realizing the fraud, the woman filed a complaint at the Kharghar Police Station. A case was registered under charges of cheating and relevant sections of the IT Act. Zone II Cyber Cell, led by Police Inspector Deepali Patil, began investigating the case.

Technical analysis of bank transactions, Facebook activity, and WhatsApp chats helped trace the accused to Mumbra. "He was arrested on Wednesday, and the phone containing evidence of his conversations with the victim was seized. We suspect that Khan may have cheated other individuals using similar methods and are conducting further investigations," PI Patil said.