Mumbai: Two held for cheating actor after luring him for high stock market returns in Malwani

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Two individuals were nabbed by the Malwani Police in Mumbai for deceiving an actor allegedly under the guise of stock market share transactions. Both suspects received fraudulent funds into their accounts, the police said.

The duo were identified as Saadhan Khillare and Pandurang Hiparkar, an official said on Thursday.

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The victim, Niraj Singh (33) an actor from the Hindi TV serial, stumbled upon an account on Facebook last year, leading him to a link that added him to a WhatsApp group. In the group, members shared screenshots purportedly showcasing lucrative stock market transactions. A caller, posing as the group's admin, falsely claimed that investments could yield a 300 per cent return, the official said.

Convinced by these promises, the victim deposited Rs. 3,30,000 across various accounts. However, upon attempting to withdraw the invested amount, he discovered his account was devoid of funds. When attempts to contact the group's number failed, he promptly reported the scam to the Malwani Police, prompting an investigation under Assistant Commissioner Shailendra Dhiwar's directive.

Meanwhile, to evade detection, Saadhan allegedly obtained a new phone number. However, the police, disguised as customers, approached his gas service shop and, upon gaining his trust, apprehended him. During interrogation, Hipparkar's involvement emerged, leading to his arrest from the Gahunje Stadium area, an official said.

Further investigation revealed that Saadhan operated a current account under his shop's name, providing the bank with incorrect contact information. Hiparkar, on the other hand, received huge sums of money in his account over two months. It has been uncovered that both suspects received a 10 percent share of the ill-gotten gains, the police said.

The team led by Senior Inspector Chimaji Adhav and comprising Sub Inspector Amar Shinde, along with Jauane, Bidkar, Sangle, and Pathan, received vital information regarding a bank account during their probe. Acting on this lead, the police traveled to Pimpri Chinchwad in Pune, where they apprehended both suspects. Subsequently, the court remanded them to police custody.