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PUNE: A 70-year-old man living alone in Pune has reportedly lost 2.10 crore rupees across two consecutive cyber frauds spanning a period of 10 months. In the first instance, cybercriminals lured the senior citizen into a fictitious investment platform by misusing the names of industrialist Mukesh Ambani, former cricketer Sachin Tendulkar, and former Union minister P. Chidambaram. Before the elderly man could recover from the financial blow, a second gang subjected him to an elaborate digital arrest extortion scheme, citing the identity of former Jet Airways chairman Naresh Goyal and threatening immediate detention in an alleged money laundering case.
According to a formal complaint registered on October 30 at the Pune City Cyber Police Station, the victim was cheated of approximately 1.07 crore rupees through the counterfeit investment venture, followed by another 1.02 crore rupees in the digital arrest operation. Investigators have registered a first information report under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita, launching a comprehensive investigation into the digital footprint and multiple bank accounts used in the coordinated crimes.
Fabricated High-Return Venture Capital Scheme
The ordeal began when the elderly resident came across an online advertisement promoting a purported venture capital firm. To instill trust, the promotional material falsely listed Mukesh Ambani, Sachin Tendulkar, and P. Chidambaram as promoters, promising that an initial outlay of 20,000 rupees would yield 80,000 rupees within seven days. Upon calling the contact number displayed, the complainant was contacted by an individual claiming to be a manager operating from the United Kingdom, who directed him to transfer the starting sum via an online payment application.
A week later, the operative furnished a fabricated financial statement showing that the original funds had quadrupled to 80,000 rupees. The caller advised against withdrawals, urging him to preserve the balance for higher returns and special privileges. The victim was then induced to invest 5 lakh rupees with an assured monthly bonus of 500 dollars. The fraudsters gradually expanded their pitch to include fictitious trading in cryptocurrency, gold, and bronze, repeatedly delivering bogus ledger statements to illustrate soaring profits. Over four months, the victim transferred 1.07 crore rupees across accounts before realizing he was duped when asked for an additional 13.5 lakh rupees to process withdrawals.
Impersonation and Digital Arrest Extortion
Fresh trouble emerged in July 2026 when the complainant received a phone call from an individual claiming to represent the Telecom Regulatory Authority of India, alleging that a mobile number in his name was tied to criminal offenses. Shortly afterward, other callers posed as officers from the Mumbai Police Crime Branch, claiming that an ATM card issued in his name was recovered among 247 cards linked to a money laundering probe against former Jet Airways chairman Naresh Goyal.
To escape arrest, the victim was told he required official clearance and was subjected to an unconstitutional digital arrest for continuous monitoring. The impostors barred him from confiding in relatives or friends under threat of criminal prosecution, instructing him to liquidate his bank balances and transfer the funds to designated verification accounts that would supposedly be refunded after clearance.
Mounting Demands and Ongoing Police Investigation
Operating under extreme distress and fear of custody, the victim transferred roughly 1.02 crore rupees across several weeks into six mule bank accounts provided by the fraudsters. Instead of relenting, the callers escalated their demands, pressuring the pensioner to sell his residential flat to secure further payments while warning that the Enforcement Directorate would intervene if he broke silence.
The fraud surfaced when the victim stopped payments, demanded his money back, and found all associated phone numbers disconnected. The Pune City Cyber Police are currently tracking the money trail across the six beneficiary accounts, analyzing internet protocol logs, and working to identify the organized syndicates behind both operations.
