The Santacruz police have prevented a businessman from losing R3 crore after two individuals allegedly hacked his mobile phone, sold shares, and purchased penny stocks worth Rs 1.5 crore. During the investigation, the police sought assistance from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The complainant, Raju Devani, 57, a resident of Santacruz West, is involved in the printing business. The accused have been identified as Anil Kumhar, 32, a share market advisor from Shahapur, who hails from Rajasthan, and Pushpa Bind, 32, also a share market advisor and a resident of Thakur Village, Kandivli East.