Mumbai: The West Regional Cyber Police have arrested Parshuram Jagtap for allegedly providing bank accounts that were used by cyber fraudsters to cheat an elderly Mumbai resident of ₹1.27 crore, after posing as senior officers of the Central Bureau of Investigation and other law-enforcement agencies.
Police officials said Jagtap acted as a crucial link in the fraud chain by supplying and managing bank accounts that allowed the accused to route large sums of money without immediately triggering suspicion. He was produced before a local court following his arrest, and further investigation is underway to identify other members of the network.
How the fraud unfolded
According to investigators, the complainant is a retired central government employee residing on Juhu–Versova Link Road. In October last year, he received a phone call from a man identifying himself as Sandeep Rao, who claimed to be an officer from the Ashok Nagar police station in Bengaluru.
The caller told the victim that a person arrested in a money-laundering case had been found carrying an ATM passbook allegedly linked to the complainant’s bank account. He further claimed that transactions worth ₹75 lakh had been conducted in the complainant’s name and that a formal inquiry had already been initiated.
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The fraudster escalated the pressure by warning that officers from the Delhi Police and the Central Bureau of Investigation were conducting a parallel probe and that the complainant could be arrested at any time. He also threatened harm to the victim’s family and claimed that his son’s job could be jeopardised if he failed to cooperate.
Isolation, intimidation and fake documents
Police said the victim was instructed not to share details of the “investigation” with anyone, citing confidentiality and so-called “national interest”. He was told to remain alone in a room and follow instructions strictly.
Soon after, the complainant was contacted by another individual impersonating a CBI officer named Daya Nayak. During a video call, the imposter displayed forged FIR papers and a fake arrest warrant, further intimidating the elderly man. He was also threatened with immediate freezing of his bank accounts.
Investigators said the fraudsters deliberately exploited the victim’s age and fear of legal consequences. He was told that arrest could be avoided if he cooperated fully and allowed a “verification” of his funds under the supervision of the Supreme Court.
₹1.27 crore transferred for ‘verification’
Believing the claims, the complainant was instructed to transfer money to accounts provided by the accused. He was assured repeatedly that the funds would be returned once the inquiry was completed and his name was cleared.
Over a series of transactions, the victim transferred ₹1.27 crore. When the promised refund did not materialise and communication with the callers stopped, he realised he had been cheated and approached the Mumbai Police’s West Regional Cyber Police Station.
A case was registered under relevant sections dealing with cheating, impersonation and cyber fraud, and a detailed investigation was launched.
Money trail leads to arrest
During the probe, cyber police traced the money trail across multiple bank accounts and identified patterns commonly associated with mule accounts—accounts opened or operated to temporarily hold illicit funds.
Officials said technical analysis and banking records revealed that Parshuram Jagtap had allegedly arranged or supplied accounts that were used to receive and move the defrauded money. Based on this evidence, he was arrested.
Police believe more individuals were involved in executing the fraud, including those impersonating officers and coordinating calls and video interactions.
Warning to the public
Cyber crime officials said the case highlights a growing trend of fraudsters impersonating senior law-enforcement officers to intimidate victims into transferring money.
They reiterated that no police agency or investigation body demands money transfers for verification, and urged citizens—especially senior citizens—to immediately report such calls and consult family members or authorities.
Further investigation is ongoing to identify additional accused, recover funds and dismantle the wider cyber fraud network behind the scam.
