S P Oswal, the esteemed Chairman of the Vardhman Group and a Padma Bhushan awardee, has fallen victim to a sophisticated cyber fraud scheme that resulted in a loss of 7 crore. The scam, orchestrated by a gang of inter-state cyber fraudsters, involved a complex web of deception.
The Scam Unfolds
The fraudsters posed as members of the Central Bureau of Investigation (CBI) and contacted Oswal, claiming that his Aadhaar had been misused in a case involving fake passports and financial fraud. The deception began with a phone call from an imposter claiming to be a CBI officer in Mumbai, who then conducted a video call in a police uniform, using a background that displayed the CBI logo.
The scam escalated when the caller sent Oswal a fake 'arrest warrant' via WhatsApp, allegedly authorized by the Supreme Court. The fraudsters convinced Oswal that he was under 'digital arrest' and needed to transfer 7 crore to facilitate bail proceedings. The funds were transferred in multiple transactions: 4 crore to one account and 3 crore in three separate transactions to another.
Police Intervention and Arrests
Upon realizing the scam, Oswal's team filed a complaint with the Ludhiana police. The police acted swiftly, freezing the accounts involved in the fraud and initiating an investigation. As a result, two suspects from Assam and Bengal were arrested, and 5.2 crore was recovered from them. This marks one of the largest seizures in India's cybercrime history.
Police Commissioner Kuldeep Singh Chahal and Inspector Jatinder Singh from the Ludhiana cybercrime police station were instrumental in the quick response and recovery of the funds. The case highlights the increasing sophistication of cybercrime and the importance of vigilance in financial transactions.
