A Mumbai businessman fell victim to a cheating and extortion scheme orchestrated by a nine-member inter-state criminal gang, resulting in a loss of approximately ₹3.25 crore (roughly $390,000 USD). The incident began in July 2025 when the businessman, who operates a private enterprise, was approached by four gang members posing as brokers. They convinced him to invest in a company named Arkship Group, leading him to transfer ₹1 crore (roughly $120,000 USD) online, which was later misappropriated to an NGO account. When the businessman confronted the gang, he was assaulted and threatened at gunpoint in a hotel in Vile Parle, Mumbai. The gang demanded a ransom of ₹3 crore (approximately $360,000 USD), which the victim paid out of fear for his life. After receiving the funds, the gang released him but warned against contacting law enforcement. Eventually, after consulting with family, the victim reported the crime to the police, leading to an FIR being filed against the nine suspects for various charges, including extortion and issuing death threats. The Mumbai Crime Branch has taken over the investigation, indicating that the suspects may be part of a larger criminal network.