Pune: The Mumbai High Court has denied the anticipatory bail application of TikTok star Maulana Abdul Rasheed alias Miftahi Qalandar Khan, a key accused in a ₹1.16 crore fraud case involving Saad Motors.
The case pertains to nine investors who were lured with promises of monthly returns of 2-3% on investments made in the car trading business. Justice Manish Pitale delivered the ruling, citing the influential role of the accused in orchestrating the fraudulent scheme.
According to the case details, the accused, leveraging his popularity as a motivational speaker on social media with millions of followers, allegedly convinced investors to participate in the scheme, leading to their financial exploitation.
The case, filed by Nisar Babulal Shaikh, a 55-year-old resident of Chintamaninagar, Hadapsar, was registered at Kondhwa Police Station.
The complaint named Rafiq Qalandar Khan, Sanobar alias Sauda Rafiq Khan, Isa Rafiq Khan, and Abdul Rasheed alias Miftahi Qalandar Khan—all residents of Bhagyodaynagar, Kondhwa Khurd—as co-accused.
The fraudulent activities reportedly spanned from 2020 to the present, during which the accused allegedly promised substantial returns on investments in Saad Motors’ car trading business. However, instead of fulfilling these promises, the accused are alleged to have siphoned off funds for personal gain.
During the court proceedings, it was highlighted that a sum of ₹21 lakh from the investors' contributions was transferred to the bank accounts of Abdul Rasheed Qalandar Khan and his family members.
This evidence, presented by Advocate Ameya Abhay Sirsikar on behalf of the defrauded investors, was pivotal in proving the accused's direct involvement in the scam.
Justice Pitale noted that the accused's social media influence played a critical role in deceiving the investors, making him the prime architect of the fraudulent scheme.
