Mon Sep 30 17:26:48 UTC 2024: ## Padma Bhushan Awardee Duped of Rs 7 Crore in Elaborate Cyber Fraud

**Ludhiana, India** – In a shocking incident, Padma Bhushan awardee and textile industrialist S P Oswal (82), chairman and managing director of Vardhman Group, was duped of Rs 7 crore by a cyber fraud gang posing as CBI officers. The gang executed an elaborate plan that included faking an online Supreme Court hearing, presenting fake arrest warrants, and maintaining a two-day “digital surveillance” over Skype.

The fraudsters, operating from Assam, West Bengal, and Delhi, threatened Oswal with fake arrest warrants allegedly issued by the Enforcement Directorate, Mumbai. They also displayed a forged Supreme Court order instructing him to deposit Rs 7 crore into a “Secret Supervision Account” to transfer the money into their bank accounts.

The gang claimed Oswal was involved in a money laundering case linked to Naresh Goyal, the Jet Airways founder. They even conducted a “fake Supreme Court hearing via Skype,” where an individual impersonated Chief Justice D Y Chandrachud. A fake court order, complete with a stamp, was subsequently shared with Oswal via WhatsApp.

Oswal, who was under the gang’s digital surveillance for two days, recounted his harrowing experience, highlighting the elaborate scheme. He shared that the fraudsters accused him of illegally sending a parcel abroad and intimidated him with threats of legal repercussions if he revealed the situation to anyone.

The police, after an FIR was lodged, swiftly identified the gang and arrested two individuals in Guwahati. They recovered Rs 5.25 crore and successfully transferred it back to Oswal’s bank accounts, marking the largest-ever recovery in India in the category of cyber crimes.

The case highlights the growing sophistication of cyber fraudsters and the vulnerability of even prominent figures to these intricate schemes. Police are now searching for seven other members of the gang, including a former bank employee who played a crucial role in orchestrating the financial transactions.

The incident serves as a stark reminder of the need for increased vigilance and robust cybersecurity measures to protect individuals from such elaborate cyber crimes.

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