Share trading losses turns BMM student into pickpocket

Yash Chandani in police custody

A 20-year-old BMM student found himself entangled in a life of crime after suffering substantial losses in share trading. As a desperate measure, he resorted to pickpocketing. Recently, a couple faced the consequences of his actions when they lost their debit card during a train journey from Gujarat to Mumbai. Soon after, they discovered unauthorised withdrawals from their account, prompting them approach the police.

Yash Chandani, a final year BMM student from Gujarat, got addicted to share trading and invested heavily, taking loans from friends and relatives. "He claimed to have invested Rs 50 lakh but ended up losing it all. Faced with financial distress, Chandani resorted to pickpocketing in public transport," said an officer from Borivli GRP.

After pickpocketing, Chandani attempted to withdraw money from the victims' ATMs using their debit cards. He tried various combinations, and in some cases, successfully cracked the ATM pin. Several pickpocketing incidents have been registered in the western suburbs, including Borivli and Andheri.

A family travelling from Gujarat to Mumbai discovered the woman's purse missing and later found that the accused had withdrawn Rs 1 lakh from multiple ATMs. The complainant's husband transferred the remaining money into his account before reporting the theft to the police. The police caught the accused while he was attempting another withdrawal at an ATM in Andheri station.

Upon interrogation, Chandani confessed to his involvement in other cases. The police suspect his connection to several similar ATM withdrawal cases. Senior Police Inspector Anil Kadam of Borivli GRP advised caution, "People generally use their date of birth or year as ATM pins. It is of utmost importance for us to be cautious and use random numbers for ATMs." Chandani, who lost his father years ago, lives with his mother in Gujarat and is the sole breadwinner of the family, according to the police.

Rs 50 lakh
Amount the 20-year-old BMM student lost