Pune: Pimpri Chinchwad Cyber Police Bust ₹25-Crore Share Market Scam; 150 Investors Duped, Three Nabbed In Kondhwa
Pune: Pimpri Chinchwad Cyber Police Bust ₹25-Crore Share Market Scam; 150 Investors Duped, Three Nabbed In Kondhwa
Pune, September 26, 2025: The Pimpri Chinchwad Cyber Police have arrested a gang accused of duping nearly 150 citizens of ₹20 to ₹25 crore by luring them into fake share market investment schemes promising high returns.
The case came to light when a complainant, a programmer employed with a pharma company, came across a Facebook advertisement claiming daily profits of 10 to 20 percent on stock market investments. On clicking the link, the victim was added to multiple WhatsApp groups, including one named “E11 Kotak helps you achieve your dreams”, administered by individuals identified as Shripal Shah and Aarati Bhalla.
#Pune: Pimpri Chinchwad #CyberPolice Bust ₹25-Crore #ShareMarketScam; 150 Investors Duped, Three Nabbed In #Kondhwa https://t.co/pRgKGgwp4n pic.twitter.com/edDsobm48t
— Pune Pulse (@pulse_pune) September 26, 2025
The suspects convinced the complainant to invest through a fake trading app named KOTAK QIB, where he deposited ₹89.35 lakh. The app falsely showed a profit of over ₹8.71 crore. However, when the complainant tried to withdraw his money, he was asked to pay additional service tax, and his invested funds were never returned.
Following the complaint, Cyber Police registered FIR No. 37/2025 under sections of the Indian Penal Code and Information Technology Act. Investigation revealed that ₹33.86 lakh from the complainant’s account had been transferred to a Cosmos Bank account linked to Trading Guru, operated by Yash Bharat Patole (25), a resident of Kolhapur, currently residing in Kondhwa, Pune.
Based on technical analysis, a raid was conducted at Omkar Pride Hotel in Kondhwa, where three suspects — Yasir Abdul Majid Shaikh (34, Undri, Pune), Mohammed Sultan Ahmed Mohammed Jehareddun (30), and accomplices — were found operating the fraudulent accounts.
Police confirmed that the accused had systematically cheated citizens across different states by using fake trading apps and bogus WhatsApp investment groups. Further investigation is underway to trace more accomplices and victims connected to the racket.
