₹11 Crore Cyber Scam: Bengaluru Techie Lured into Money Laundering Trap by Fake Govt Officials

Bengaluru (The Uttam Hindu): In a recent cyber scam, a Bengaluru techie Vijay Kumar was reportedly duped of ₹11 crore by fraudsters posing as customs and Enforcement Directorate (ED) officials. The accused learned about Vijay's market investment which had grown from ₹50 lakhs to ₹12 crore and then threatened him with arrest in a money laundering case.

The fraudsters who posed as police, customs and ED officials convinced the victim that the information was part of government procedures required to clear his name in the case. They pressured Vijay into sharing personal details, including his Aadhaar, PAN card and KYC information. Over several months, they siphoned the funds into nine different bank accounts.

Upon realizing the scam, Vijay filed a complaint with the Crime Police. The investigation revealed that ₹7.5 crore was traced to a single account in Allahabad. The money trail led the authorities to Surat where it was discovered that one of the accused, Dhaval Shah had used the funds to purchase gold. Shah confessed that he was following instructions from a Dubai-based fraudster and had earned ₹1.5 crore as commission for facilitating the purchase which was handed over to an unidentified person named "Neel Bhai." Along with Shah, two others—Tarun Natani and Karan—were arrested and further investigations are ongoing under the relevant sections of the IT Act and Indian Penal Code (IPC).