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Digital Arrest: How Fraudsters Took Rs 7 Crore from 82-Year-Old Textile Tycoon
Impersonation, Fake Supreme Court Hearing, and Digital Custody: A Crime Straight Out of a Thriller
In a chilling reminder of the growing sophistication of cybercrime, S P Oswal, an 82-year-old Padma Bhushan awardee and chairman of the Vardhman Group, was duped out of Rs 7 crore by a gang of cyber fraudsters.
The scam, which spanned several days, involved impersonating top government officials, staging a fake Supreme Court hearing, and holding Oswal under “digital custody” via Skype.
Ludhiana police arrested two suspects from Assam on Sunday and have identified seven others linked to the scam, spread across West Bengal and Delhi. Authorities recovered Rs 5.25 crore from the suspects’ bank accounts.
How the Scam Unfolded
Oswal, whose Vardhman Group is India’s largest textile manufacturing company, recalls that the ordeal began on August 27, when he received a seemingly routine phone call from someone claiming to be from the Telecom Regulatory Authority of India (TRAI). The caller threatened that his services would be disconnected unless he pressed 9 on his phone.
“I pressed 9 and it ended. A few hours later, I received a call from a man identifying himself as Vijay Khanna, a CBI officer,” Oswal said in his statement to the police. Khanna informed him that his name had come up in a money-laundering investigation related to Jet Airways founder Naresh Goyal.
The fraudsters escalated the situation by sending Oswal fake documents bearing the insignia of the Mumbai Police, claiming his involvement in the money-laundering case. What followed was a carefully orchestrated plan that saw Oswal placed under digital surveillance.
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“Digital Custody” and Skype Surveillance
Posing as CBI officials, the fraudsters took Oswal into what they termed “digital custody,” subjecting him to constant monitoring through a Skype account they set up for him. Oswal, unfamiliar with Skype, had no reason to doubt their intentions.
“They created my Skype account and began round-the-clock digital surveillance. They told me I couldn’t leave the house without their permission and made it clear that discussing the case with anyone would result in imprisonment for 3 to 5 years,” he said.
For two days, Oswal remained under this digital surveillance, unable to sleep properly due to the constant monitoring. The next day, on August 28, the criminals took their charade a step further by staging a fake Supreme Court hearing.
Fake Supreme Court Hearing
According to Oswal, the fraudsters staged an elaborate fake Supreme Court hearing via Skype. During the hearing, a person impersonating Chief Justice of India D Y Chandrachud allegedly passed an order directing Oswal to transfer Rs 7 crore to a Secret Supervision Account (SSA).
“They told me the case was now going to the Supreme Court and that I had to attend a hearing before the Chief Justice. I couldn’t see the judge’s face, but I heard someone bang a hammer on the table twice and say, ‘Order, order, please present your case.’” Oswal recounted.
Believing the proceedings were legitimate, Oswal transferred Rs 4 crore that day and Rs 3 crore the next, bringing the total to Rs 7 crore. The scammers issued a series of forged documents, including a fake court order and arrest warrant, further convincing Oswal of the gravity of the situation.
Realization and Rescue
The scam started to unravel on August 29, when Oswal began feeling unwell and had to leave his home for a hospital visit. During this time, he confided in his senior colleague, Vikas Kumar, who immediately identified the situation as fraud.
“They were asking for another Rs 2 crore, but I told them I had to go to the hospital. When I shared the ordeal with Vikas Kumar, he flagged it as a scam. The fraudsters then threatened me with an arrest warrant, claiming I’d be arrested in two hours. I said I’d rather die in custody than pay them more,” Oswal recalled.
A Sophisticated Operation
The fraudsters’ scheme was meticulously planned, with fake documents from multiple authorities, including the CBI, Enforcement Directorate (ED), and Supreme Court, all appearing genuine. Even the fake court order was detailed, complete with stamps from different government departments. Oswal says the professionalism of the documents and the fear of legal repercussions made him fall into their trap.
Despite the terrifying ordeal, Oswal can now reflect on the experience with some levity. “My ordeal is nothing short of a movie script. It should serve as a warning to others about the dangers of cyber fraud,” he said.
Arrests and Recovery
Following Oswal’s report, Ludhiana police launched an investigation, leading to the arrest of two suspects from Assam. Seven other individuals involved in the scam have been identified, and authorities are actively pursuing their capture. A total of Rs 5.25 crore has been recovered from the bank accounts used in the fraud.
Police are continuing their investigation and have urged citizens to remain vigilant against such scams, which often rely on impersonating officials and using technology to create fear and confusion.
This case highlights the growing sophistication of cybercriminals, who are now leveraging technology and impersonation to defraud even the most experienced individuals. It highlights the importance of awareness, cybersecurity measures, and the need for prompt reporting to authorities when suspicious activity occurs.
As cyber fraud becomes increasingly common, it is crucial for individuals and businesses alike to stay informed and take proactive steps to protect themselves from falling prey to such schemes.