Film producer caught in ₹86 lakh Chinese cyber scam web

Shivam Balkrishna Samvatsarkar’s account received over ₹86.43 lakh from multiple fraudulent activities, with at least 15 complaints filed, and investigators believe he operated as a mule account facilitator for six months, earning commissions along with several associates

The Cyber Cell of Pimpri Chinchwad police has arrested Shivam Balkrishna Samvatsarkar, a resident of Erandwane who claimed to be a film producer, in connection with a large-scale online stock market fraud. Authorities say Samvatsarkar was running mule bank accounts through which funds obtained via cyber scams were laundered. Police discovered that ₹57 lakh siphoned from a victim had been deposited into a bank account linked to his company, Balaji Enterprises.

Initially denying any wrongdoing, Samvatsarkar later admitted during questioning that he collaborated with a Chinese national, known by the alias Bambino, to share bank accounts for transferring illicit funds.

YouTube investment scam and growing fraud network

The case came to light after a highly qualified IT professional was lured into investing in a fake trading platform via a YouTube stock market tip video. The platform initially showed profits, but when the victim attempted to withdraw his gains, he was asked to pay multiple charges, ultimately losing over ₹57 lakh. Tracing the transactions led police to Samvatsarkar’s company account.

According to Cyber Police Senior Inspector Ravikiran Nale, Samvatsarkar’s account received over ₹86.43 lakh from multiple fraudulent activities, with at least 15 complaints filed against it. Investigators believe he had been operating as a mule account facilitator for at least six months, earning a 10% commission on each transaction. Several of his associates were also reportedly involved in similar activities.

Samvatsarkar has been charged 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.

Authorities caution that international cyber fraud rings are increasingly exploiting Indian mule networks and digital platforms like YouTube, targeting unsuspecting professionals with sophisticated schemes.