Industrialist Duped of Rs 7 Crore in Elaborate Cyber Fraud

An inter-state gang of cyber fraudsters duped Vardhman Group's S P Oswal of Rs 7 crore by pretending to be CBI officers. They used fake hearings, arrest warrants, and digital arrests to execute their plan. The scam unraveled when Oswal discussed it with his manager, leading to police intervention and arrests.

An interstate gang of cyber fraudsters has duped Padma Bhushan S P Oswal, Chairman and Managing Director of the esteemed Vardhman Group, out of Rs 7 crore by impersonating CBI officers, authorities disclosed on Monday.

The fraudsters concocted an elaborate scheme that included fake Supreme Court hearings and arrest warrants. It began with a phone call, where the perpetrators informed Oswal he was implicated in a criminal case. They claimed to have intercepted a parcel bound for Malaysia containing fake passports and debit cards linked to his Aadhar Card, positioning him as a prime suspect.

To cultivate credibility, the gang staged a video call, showcasing a CBI logo, and sent a forged arrest warrant via WhatsApp. They promised a 'digital arrest' to avoid public embarrassment. Oswal was persuaded to transfer Rs 7 crore to two bank accounts under the guise of securing legal help and eventual refund. The plot was uncovered after Oswal's manager raised suspicions, prompting a police investigation that led to arrests and partial recovery of funds.