Former Baroda pacer Rishi Arothe, who earlier shared the field with Hardik and Krunal Pandya, has once again landed in trouble. He was arrested in Hyderabad for allegedly being involved in a ₹32 lakh stock investment fraud, police confirmed.
Arrest and Court Custody
As reported by The Times of India, cybercrime police also apprehended Inamdar Vinayaka Rajender, known as Nikhil, from Vadodara. The duo was detained on Thursday in Gujarat and later brought to Hyderabad. On Friday, a court remanded them to judicial custody.
Investigators revealed that the group created fake brokerage advertisements on social platforms. Unsuspecting investors who clicked the ads were pushed into WhatsApp groups such as Aditya Birla Stock Elite 678. They were then instructed to install a counterfeit trading app that falsely displayed heavy profits.
Scam Modus Operandi
“The fake app dashboards showed skyrocketing profits, while Rishi and Nikhil siphoned off deposits through several bank accounts,” officials explained.
In January, one Hyderabad resident fell victim and transferred ₹32 lakh. Police traced the funds to Gujarat, where Nikhil had provided six bank accounts to fraudsters for a fee. Rishi allegedly turned the money into USDT on Binance and sent it abroad.
Prior Record and Wider Network
“Among the accused, former cricketer Rishi Tushar, alias Vikranth, has a criminal record. He was arrested by the SOG of the Gujarat police in 2024 for cheating and diversion of the fraudulent amount,” cybercrime DCP D Kavitha told The Times of India.
“They are linked to 12 similar cases in eight states, including Telangana, Haryana, Kerala, Jammu and Kashmir, Madhya Pradesh, West Bengal and Maharashtra. Two mobile phones used for fund transfers have been seized,” Kavitha added.
Cricketing Background
Rishi is the son of former Baroda player Tushar Arothe. His name being linked to yet another financial scam has left many in the cricketing community stunned, as he once represented Baroda alongside future Indian stars Hardik and Krunal Pandya.
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