In a yet another case of cybercrime, SP Oswal, the head of the Vardhman Group, was defrauded of ₹7 crore by individuals posing as officials from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED). 

The scam even involved a fake Supreme Court hearing conducted via video call, complete with fake court proceedings and impersonation of high-ranking officials.

The fraudsters, using fake CBI IDs and posing as ED officials, convinced Oswal that he was under investigation for money laundering. They orchestrated a virtual court session, where one individual impersonated a CBI officer and another posed as an ED official.

Oswal was informed that a money laundering case had been filed against him and that he needed to deposit ₹7 crore into a specified bank account to avoid digital arrest.

Oswal then transferred the money. It was only after the calls were stopped he realised he had been duped.

Oswal promptly reported the incident to the Punjab Police, who launched an immediate investigation. The police’s swift action led to the arrest of two individuals from Bengal and a recovery of ₹5.25 crore were made. 

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