On August 1, Malhotra received a call from a man claiming to represent a mobile connection company. The caller alleged that his Aadhaar Card had been misused in Mumbai to obtain a connection linked to terror funding cases.
“They told me I needed to speak with the Mumbai Police, and if the authorities approved, the connection would continue; otherwise, it would be disconnected and the matter reported,” Malhotra told PTI.
“They pressured me, claiming my Aadhaar was linked to terror funding, terror activities, and other serious offences,” he added. The imposters also warned him not to inform anyone, including his family, or they too would be treated as co-accused.
The scammers initially sought information about Malhotra’s savings. “They asked how much I had in my bank accounts. I said around Rs 14 lakh. They told me to transfer it for verification, assuring me it would be returned,” he recounted. After each transfer, the fraudsters sent him forged certificates purporting to be from the Reserve Bank of India (RBI), PTI reported.
As their demands grew, they inquired about his mutual funds, systematic investment plans (SIPs), and other assets, claiming they were verifying them under Bombay High Court guidelines. “They said they would verify 25 percent of my assets first, then proceed with the rest. They threatened that my family would be named co-accused if I didn’t comply,” Malhotra said.
Under constant pressure, he visited three banks, liquidated his investments, and transferred the proceeds to accounts provided by the scammers. Each time, they issued more fake RBI certificates. Between August 1 and September 4, he was confined to his home, venturing out only for bank visits.
On September 14, the fraudsters claimed that the Mumbai Police officer investigating his case was compromised and demanded another Rs 5 crore, allegedly on behalf of the Supreme Court, to be deposited into a private bank in West Bengal. Malhotra refused, saying he would approach the police directly. After this, the calls abruptly stopped.
On September 19, Malhotra approached authorities, realizing he had been defrauded. “I spent my life savings building security for my old age. In one month, it all disappeared because I trusted the wrong people. I hope my story serves as a warning,” he said, holding back tears.
The Intelligence Fusion and Strategic Operations (IFSO) unit of Delhi Police, which handles cyber fraud cases, is investigating. Police have so far frozen Rs 2.67 crore in several accounts.
“The funds were layered across multiple accounts and withdrawn from different parts of the country to evade detection. Over 4,000 accounts were used to siphon off the money,” an officer privy to the investigation said.
“We will crack the case soon and arrest those behind the scam,” the official added.
https://www.mid-day.com/news/india-news/article/78-year-old-ex-banker-loses-rs-23-crore-to-cyber-fraudsters-was-held-under-digital-arrest-23595438
