The MIDC Police have arrested three wanted accused in a case involving the cheating of a garment trader of nearly ₹90 lakh on the pretext of earning higher returns by trading garment fabrics and accessories through cryptocurrency. The arrested accused have been identified as Anthony Chettiyar alias Anthony Sahil, Sohail Khan and Amjad Ali Sheikh. All three are currently in police custody in connection with the same offence.
Police have declared Dhruv Mehta, Ajgar Hussain, Sheikh Ashpak, Mohammed Tausim Khan and Manoj Prajapati as wanted accused in the case and a search is underway to trace them. Investigations have revealed that the accused lured the complainant by promising the transfer of USDT cryptocurrency worth one lakh.
The complainant, Rajesh Bambhania, is a textile trader residing with his family in Vile Parle. He owns a garment factory named Only Basic in Ghatkopar. In July 2025, Bambhania had travelled to Guangzhou, China, for business purposes, where he came in contact with Peter Xu, who claimed to be involved in the wholesale business of garment materials and fabric accessories and expressed interest in doing business with him.
During the same period, Bambhania’s cousin introduced him to Dhruv Mehta, who is engaged in garment trading and claimed that he conducted business transactions through cryptocurrency, earning high profit margins. Mehta further convinced Bambhania that he too would gain higher returns if he adopted cryptocurrency-based transactions.
After gaining Bambhania’s confidence, Mehta contacted Peter Xu in China to discuss the feasibility of cryptocurrency trading. Xu also assured him of substantial profits, following which Bambhania decided to invest in cryptocurrency. As planned, Bambhania, along with his brother Alpesh Patel, visited the office of a private company in Andheri, where Mehta and seven others were present.
Mehta introduced the complainant to Anthony Sahil, Amjad Sheikh, Ajgar Hussain, Sheikh Ashfak, Manoj Prajapati and Mohammed Tausim Khan. Mehta instructed Bambhania to hand over the money to Anthony, assuring him that cryptocurrency would be transferred through a QR code link provided by the accused. Acting on their assurance, Bambhania handed over ₹90 lakh to Anthony.
However, after a considerable delay, the accused transferred cryptocurrency worth only USDT one lakh. When Bambhania contacted Mehta and the other accused seeking clarification, they stopped responding and subsequently switched off their mobile phones.
The accused allegedly induced Bambhania to invest ₹90 lakh by falsely promising higher profits through cryptocurrency transactions related to garment fabrics and accessories, but misappropriated the amount without transferring the promised cryptocurrency. After realising that he had been cheated, Bambhania approached the MIDC Police.
Based on his complaint, the police registered a case of cheating and criminal breach of trust against all the accused and launched a manhunt. During the investigation, Anthony Chettiyar, Sohail Khan and Amjad Ali Sheikh were arrested a month later. Their involvement in the crime was confirmed during interrogation, following which they were produced before the court, which remanded them to police custody.
Police are continuing their efforts to trace the remaining accused, whose involvement in the fraud has also come to light.