Mumbai: 72-Year-Old Businessman Loses ₹58 Crore in ‘Digital Arrest’ Scam, Duped Over 27 Days

Mumbai:
In one of the biggest cyber fraud cases reported in India, a 72-year-old businessman from Mumbai was duped of a staggering ₹58 crore in a sophisticated “digital arrest” scam that unfolded over 27 harrowing days. What makes this case even more tragic is that the victim had only recently received ₹50 crore from liquidating his shares in a pharmaceutical company where he was a partner — money he had earned after decades of hard work.

The Beginning of the Trap

According to investigators, the ordeal began on August 19, when the victim received a call from a person claiming to be an official from the Telecom Regulatory Authority of India (TRAI). The caller accused him of being involved in illegal activities linked to a SIM card allegedly issued in his name.

Initially confused but concerned, the elderly businessman was told that his identity had been misused and that his cooperation was required in an ongoing investigation. To make the situation appear legitimate, the caller soon connected him via video call with another person dressed in what appeared to be a police uniform — an act designed to instill fear and authenticity.

The Manipulation and “Digital Arrest”

What followed was a chilling sequence of psychological manipulation. Over the next few days, the fraudsters convinced the victim that he was under “digital arrest” — a term used by scammers to create the illusion of law enforcement surveillance.

They claimed that his assets were being monitored as part of a money laundering investigation, warning him that any attempt to contact outsiders or the police would result in his immediate “real-world” arrest.

27 Days of Ordeal

For nearly a month, the scammers exerted complete control over the man’s life. Sources revealed that the victim was forced to visit four different banks, where he held accounts, over a period of 27 days within 40 days.

Each day, under constant pressure, he transferred large sums into various “mule accounts” — accounts used by cybercriminals to launder money. Throughout this period, the conmen remained on an active phone call with him, monitoring his movements and dictating every step, ensuring he stayed isolated and compliant.

A senior officer investigating the case said, “The victim genuinely believed he was under official investigation. The scammers’ professionalism — from fake documents and official calls to video interactions — made the illusion so convincing that he didn’t dare inform anyone, not even his family.”

How the Scammers Exploited His Recent Wealth

The timing of the fraud was no coincidence. Just a few months earlier, the victim had received ₹50 crore from selling his stake in a pharmaceutical company. The large transactions in his account likely made him a prime target for cybercriminals, who exploited his anxiety about potential financial irregularities.

“The victim fell for the scam because he believed it was linked to the funds he had recently received,” an investigating officer explained. “The scammers cleverly used this coincidence to build credibility.”

The Aftermath and Investigation

The fraud came to light only after the victim, emotionally and financially devastated, confided in a family member. A complaint was then filed with the Mumbai Cyber Crime Police, who began tracing the digital trail. Preliminary findings indicate that a portion of the defrauded money was moved into cryptocurrency wallets and routed through multiple “mule accounts” across states.

Investigators are now working with national and international agencies to trace the money trail and identify the masterminds behind the operation.

A Growing Threat: The ‘Digital Arrest’ Phenomenon

Cases of “digital arrest scams” have been rising across India. Fraudsters impersonate government officials — from TRAI and CBI to the RBI — and use fake documents, video calls, and intimidation to trap victims. Elderly individuals and professionals with high-value transactions are increasingly being targeted.

Cyber experts emphasize that legitimate agencies never conduct investigations over video calls or ask individuals to transfer funds for verification.

Police Advisory

Authorities have urged citizens to remain cautious and report suspicious calls immediately. “No law enforcement agency will ever ask for money transfers or personal banking details. People must hang up immediately and contact local cyber cells,” said a senior police official.

The Mumbai Police have also intensified awareness campaigns to prevent such crimes, urging the public to visit the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) for assistance.

A Painful Lesson

For the 72-year-old victim, what began as a call from a supposed government official turned into a life-altering tragedy. In just under a month, he lost not only his life savings but also his peace of mind. His case serves as a sobering reminder that in the digital age, trust — once misplaced — can cost more than money.