Financial advisor, aide of Tipu Pathan gang arrested for ₹43 lakh extortion

Hadapsar police arrested two men linked to the Tipu Pathan gang for extorting a businessman, who paid ₹3.15 lakh under threat.

Hadapsar police on Sunday arrested a financial advisor and an alleged associate of the Tipu Pathan gang for extortion and criminal intimidation of a 50-year-old businessman from Hadapsar.

Financial advisor, aide of Tipu Pathan gang arrested for ₹43 lakh extortion

The accused, Anil Yadav (42), a resident of Karvenagar, and Nadeem Khan (42), a resident of Sayyednagar. The arrests followed a complaint by the businessman, who runs an ambulance rental service in the city. The alleged offences occurred between 2023 and 2025.

Investigators said the businessman had appointed Yadav as his financial advisor nearly two decades ago to manage his accounts. In 2018, facing financial difficulties, he borrowed ₹12 lakh from Yadav. Between 2019 and 2022, he borrowed an additional ₹23.88 lakh and repaid ₹24 lakh over time.

In 2023, when repayments stopped, Yadav allegedly claimed the loans were bank-financed and that only interest had been repaid, demanding an additional ₹43 lakh from the victim. When the businessman refused, he began receiving threatening calls from Nadeem Khan, who claimed to have been contracted by Yadav and had alleged links with the Tipu Pathan gang. Khan reportedly warned that the businessman’s vehicles would be barred from operating on roads if payments were not made.