The Cyber Cell of Pimpri Chinchwad police arrested Shivam Balkrishna Samvatsarkar, a resident of Erandwane, who claimed to be a film producer. Authorities say Samvatsarkar was running mule bank accounts through which large sums of money—acquired through cyber scams—were laundered. He was arrested after police discovered that ₹57 lakh, siphoned off in an online stock market fraud, had been deposited in a bank account belonging to his company, Balaji Enterprises.
Initially denying involvement, Samvatsarkar admitted during questioning that he had collaborated with a Chinese national, alias Bambino, in sharing bank accounts to facilitate the transfer of scam proceeds.
YouTube Trap: ₹57 Lakh Vanishes
The complaint was filed by a highly qualified IT professional who stumbled upon a stock market tip video on YouTube. After clicking a link in the video, he was lured into investing money in a fake trading platform that initially showed profits. However, when he tried to withdraw his gains, he was asked to pay multiple charges.
By the time the victim realized he had been duped, he had lost over ₹57 lakh. Police traced the flow of funds to the HDFC bank account of Balaji Enterprises, leading them to Samvatsarkar.
₹86 Lakh, 15 Complaints, and a Growing Web
According to Cyber Police Senior Inspector Ravikiran Nale, Samvatsarkar’s account had received over ₹86.43 lakh from fraudulent activities, and at least 15 complaints have been registered against it. Police suspect that the accused had been in the mule account trade for at least six months, regularly sharing his account details with Chinese fraudsters.
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He allegedly received 10% commission for each transaction. Investigators say his friends were also engaged in similar activities and were earning significant amounts without drawing attention.
Legal Action and Broader Implications
Samvatsarkar has been booked under sections 318(4), 316(2), and 3(5) of the Bharatiya Nyaya Sanhita (BNS), and sections 66(c) and 66(d) of the Information Technology Act for identity theft and cheating using computer resources.
The case once again underscores how international cyber fraud rings are exploiting Indian mule networks and tech platforms like YouTube to target unsuspecting professionals. Authorities warn that such operations are becoming increasingly sophisticated and widespread.