Mumbai: Mumbai Police’s South Region Cyber Police Station has arrested a man for allegedly duping a woman of ₹5.39 crore by luring her into investing in fake stock schemes. The accused, identified as Mohammad Kaleem Akbar Ali Khan (29), was held after investigators found his bank account was used to transfer the defrauded amount.
According to officials, what started as a single case quickly widened into a complex web of financial fraud. During the probe, police discovered that Khan’s bank account had been used in 51 different cyber fraud cases across India. His account featured in Layer 1 fraud networks 7 times, and Layer 2 networks 31 times, highlighting its role in laundering illicit funds through multiple scam operations.
In this particular case, the woman came into contact with the accused via a dating app, Topface, where Khan posed as a businessman. He later befriended her on WhatsApp and convinced her to invest in a fraudulent stock trading platform. Initially, she received a small return of ₹20 lakh, which boosted her confidence. However, when she tried to withdraw the full ₹5.4 crore investment, she was asked to pay 30% tax, raising suspicions.
Cyber Cell revealed that ₹5 lakh of the defrauded amount was routed through Maxmore Payment Digitech Pvt. Ltd., a firm registered in Khan’s name. He was directly involved in accepting and transferring the scam proceeds.
Khan is also under investigation by two other cyber units for his involvement in similar frauds. Authorities are now expanding the probe to trace additional suspects linked to the larger fraud network.
