Bengaluru techie falls prey to cyber fraud, loses Rs 11 crore; 3 arrested so far
According to the police officials, the accused were well versed with victim's Rs 50 lakhs investment that had grown to Rs 12 crores.
PTC News Desk: A Bengaluru techie became fell prey to cyber fraud and lost 11 crore when fraudsters impersonating government officials called him and threatened to arrest him in a money laundering case. Police have arrested three people in connection with the case.
According to the police officials, the accused were well versed with victim's Rs 50 lakhs investment that had grown to Rs 12 crores. They then posed as officials from the police, customs, and Enforcement Directorate (ED), and issued arrest threats over alleged money laundering.
Following a complaint from the victim, the Cyber Crime police initiated an investigation and traced Rs 7.5 crore to a single account in Allahabad.
The investigation then led them to Surat, where it was found that one of the suspects, Dhaval Shah, had used the money to buy gold.
Further inquiry revealed that Shah was following orders from a fraudster based in Dubai, earning a Rs 1.5 crore commission for facilitating the purchase. The gold was subsequently handed over to an unidentified individual, known as "Neel Bhai."