IIT Graduate and Bank Manager Arrested in 1.12-Crore Cyber Fraud Case

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Mumbai Cyber Police have detained six individuals, including an IIT Delhi alumnus and a private bank operations manager, in a 1.12-crore rupee cyber fraud scheme.

Mumbai Cyber Police have detained six individuals, including an IIT Delhi alumnus and a private bank operations manager, in connection with a digital deception scheme that defrauded a 68-year-old Dahisar resident of 1.12 crore rupees. The perpetrators allegedly posed as representatives from the Telecom Department, law enforcement, and other governmental bodies, leveraging threats of immediate detention to coerce the victim into transferring funds.

Fraudulent Scheme Involving Fake Legal Notices

The scam unfolded between July 30 and August 12, during which the victim was pressured into executing multiple financial transactions. The accused claimed his accounts were under formal investigation and warned that non-cooperation would lead to criminal charges and arrest. To reinforce the illusion of legitimacy, the group provided a fabricated document purporting to originate from the Supreme Court. Continuous video calls were used to maintain psychological pressure, with the victim led to believe he was under digital surveillance while being directed to transfer money through multiple bank accounts.

Tracing Financial Movements to Uncover Organized Network

Investigations revealed that the initial transaction was traced to a specific bank account, exposing an organized network involved in acquiring bank accounts and SIM cards to launder illicit proceeds. One suspect traveled to Delhi and Bijnor in Uttar Pradesh with associates to collect the stolen funds. Authorities are currently analyzing travel routes, verifying local contacts, and mapping how the proceeds were distributed across diverse financial accounts.

Seizure of Evidence Indicates Broader Criminal Operations

During a raid, investigators recovered 20 mobile phones, two laptops, passbooks, ATM cards, documentation linked to 25 bank accounts, and Aadhaar cards. Police confirmed that one of the arrested individuals had prior involvement in a criminal case. The investigation also highlighted the systematic approach of digital arrest scams, which rely on impersonating judicial, regulatory, or law enforcement authorities. Forged legal documents and live video calls are used to simulate official detention procedures. Forensic analysis of seized devices, communication logs, and financial records is ongoing to determine if the syndicate facilitated similar operations nationwide.