Mumbai | October 18, 2025: A chilling case of cybercrime has emerged from Maharashtra, where a 72-year-old retired investor lost ₹58.13 crore in a meticulously planned digital scam—barely months after he received ₹50 crore from share sales. The Maharashtra Cyber Police have arrested seven individuals in connection with what investigators describe as one of the most psychologically manipulative and financially complex digital frauds in recent years.
Fraud Began With Fake TRAI Official’s Call
According to investigators, the ordeal began on August 19, when the victim received a video call from a man claiming to be an officer from the Telecom Regulatory Authority of India (TRAI). The caller alleged that the victim’s mobile number had been used for sending illegal messages and that his bank accounts were under probe for links to money laundering.
What followed was a 40-day-long psychological siege. The scamsters, posing alternately as police officers, court officials, and bank authorities, convinced the victim and his wife—herself a former banking professional—that they were under investigation. Under the pretext of “verification,” they demanded that the couple transfer their funds to various “government accounts” for audit.
Throughout the period, the couple remained under what investigators called “digital arrest.” The scamsters forced them to remain on continuous phone or video calls and restricted their communication with anyone else. Over 27 days, the victims were coerced into visiting four different banks to transfer the funds through RTGS.
Manipulated Through Fear and Fake Legitimacy
Sources revealed that the fraudsters fabricated police station backdrops and court settings during video calls to enhance credibility. They sent forged documents, complete with official seals and letterheads, claiming they were from law enforcement agencies.
Between August 19 and September 29, the couple transferred ₹58.13 crore to multiple accounts controlled by the scamsters. They refrained from contacting banks, neighbors, or even their two children studying abroad, believing they were cooperating with government authorities.
The realization came only on September 30, when the fraudsters demanded the final ₹2 crore remaining in the wife’s account. The couple consulted a friend, who quickly identified it as a scam. It took them another 11 days to approach the cyber police—time that investigators say could have made a significant difference in fund recovery.
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Seven Arrests; 6,500 ‘Mule Accounts’ Identified
The Maharashtra Cyber Police have arrested seven individuals so far, all from Mumbai and surrounding areas. Officials believe the arrested suspects provided their bank accounts for laundering money in exchange for commissions.
DIG Sanjay Shintre said investigators suspect the fake video calls originated from Rajasthan and Gujarat, while the arrested individuals handled the movement of funds locally.
Additional Director General Yashasvi Yadav confirmed that forensic analysis has uncovered a network of over 6,500 “money mule” accounts spread across 13 transaction layers. Most of these were current accounts opened in the names of shell firms to enable high-value transfers without triggering compliance alerts.
Tracing ₹3.5 Crore; Complex Money Trail Emerges
So far, investigators have managed to trace and block ₹3.5 crore of the defrauded amount. Officers say the fraudsters used multiple laundering techniques, including withdrawing money via cheques and redepositing it into unrelated accounts within the same bank to obscure digital trails.
“Each withdrawal and redeposit was designed to sever the transaction chain. This made tracing the money nearly impossible,” an officer explained. Nine police teams are currently working across states to map the financial trail and identify the masterminds behind the operation.
A New Face of Digital Crime
Cyber experts warn how modern financial scams are evolving beyond technical hacking into psychological manipulation and behavioral control. The scamsters leveraged fear, authority, and technology simultaneously to isolate the victims and gain complete control of their actions.
“This wasn’t a simple phishing case—it was digital coercion,” said a senior cyber law expert. “The fraudsters created an environment of fear so convincing that the victims effectively became hostages in their own homes.”
Investigators are now probing possible interstate and international links to similar frauds involving fake law enforcement identities and digital confinement tactics.
