Chinese Connection Found in Rs 25 Crore Scam; 150 Victims Duped, Six Held by Pimpri Chinchwad Cyber Police
Reported by Mubarak Ansari
Pimpri, 26th September 2025: The Cyber Police have arrested a gang of six individuals for allegedly duping over 150 citizens to the tune of ₹25 crore by luring them with promises of high returns on stock market investments. Investigations revealed that the accused were in contact with Chinese-speaking foreigners and routed the defrauded money through cryptocurrency and USDT, while receiving commissions via hawala and other channels.
The arrested accused have been identified as Yash Bharat Patole (25, resident of Kolhapur), Yasir Abdul Majid Sheikh (34, resident of Undri, Pune), Mohammad Sultan Ahmed Mohammad Zehreddun (30, resident of Patna, Bihar), Maz Afsar Mirza (24, resident of Swargate, Pune), Hussain Tahir Sohail Sheikh (23, resident of Sambhajinagar) and Baburao Shivkiran Meru (41, resident of Hadapsar, Pune).
According to Police Inspector Ravikiran Nale of the Cyber Police Station, the case began when a complainant came across a stock market advertisement on social media. The victim was promised 10–20 percent daily profit on investments and was added to a group after clicking on a shared link. He was persuaded to invest ₹89.35 lakh and was shown a fake profit of ₹8.71 crore. However, when he attempted to withdraw the amount, he was asked to deposit additional money and was eventually cheated of his entire investment.
During the probe, investigators tracked ₹33.86 lakh transferred into a bank account linked to Yash Patole, who was subsequently arrested from Kondhwa. Further inquiries revealed that his associates were operating from a hotel in Kondhwa, where they coordinated with Chinese-speaking foreigners. Acting swiftly, police apprehended five more suspects from the location.
The police seized nine mobile phones, 15 SIM cards, four CCTV cameras, eight cheque books, 20 ATM cards, a laptop, a memory card, a passport, and ₹13,550 in cash from the accused.
Link to Chinese Nationals
Investigations have revealed that the accused were working in collusion with Chinese nationals. They diverted funds through multiple bank accounts and transferred the money abroad using cryptocurrency and USDT. In return, they received commissions via hawala networks, money transfers, and other illegal channels, police officials said.
A detailed investigation is underway to trace the money trail and identify more victims of the racket.
