Bengaluru techie loses ₹11 crore to cyber scammers
What's the story
A Bengaluru-based tech professional has been cheated of ₹11 crore by cybercriminals impersonating officials from the police, customs, and the Enforcement Directorate (ED).
The Bengaluru-based tech professional, Vijay Kumar, was threatened with arrest over a fake money laundering case.
They got to know about his market investment of ₹50 lakh which had grown to ₹12 crore and coerced him into sharing sensitive personal information including Aadhaar and PAN card details.
Money transfer
Fraudsters siphon funds into multiple bank accounts
The scammers used Kumar's personal details to transfer money into nine different bank accounts over the course of several months.
They said these transactions were required for government procedures to clear his name.
After realizing he had been duped, Kumar filed a complaint with the Cyber Crime police who then launched an investigation into the matter.
Investigation progress
Police trace funds, arrest 3 individuals
The Cyber Crime police traced ₹7.5 crore of the stolen money to an Allahabad bank account.
Their probe took them to Surat, where they learned the money was used to buy gold by one of the accused, Dhaval Shah.
Shah had worked on the instructions of a Dubai-based fraudster and received ₹1.5 crore as commission for his part in the scheme.
The police have arrested three people: Tarun Natani, Karan and Shah in this case.