Former MD falls victim to online fraudsters, loses Rs 4.80 crore

Share this story

online fraud
Representational Image. (Photo by Bermix Studio on Unsplash)

Thane: A 67-year-old former managing director of a multinational company in Thane fell prey to online fraud, losing a staggering Rs 4.80 crore. The Thane police’s cyber cell has registered an FIR against three individuals accused of duping the victim by posing as officials from central agencies.

The fraudsters, under the guise of intercepting a contraband parcel en-route to Taiwan, coerced the victim into divulging his confidential bank details. They claimed the parcel contained MDMA, expired passports and credit cards, and used this information to threaten the victim with alleged involvement in drug trafficking.

Informing the victim of an alleged case registered against him at the Andheri police station in Mumbai’s neighbouring area, the fraudsters threatened him with potential arrest warrants and legal ramifications under anti-money laundering and drug peddling provisions, stated the official.

The fraudsters coerced the victim into sharing sensitive information, including bank account details and property transactions in Pune and Murbad. They even convinced him to transfer Rs 1 crore to his wife’s account.

Upon consultation with his UK-based son, the victim realised the deception and reported the incident. Investigation revealed a staggering Rs 4.80 crore had been siphoned off from the victim’s account.

The Thane police have filed an FIR against the fraudsters under relevant sections of the Indian Penal Code and the Information Technology Act, initiating efforts to track down the perpetrators.

Share this story