• Source:JND
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Bengaluru News: Amid a surge in online fraud cases, a Bengaluru man reportedly lost Rs 11 crore to the fraudsters after falling into their trap. The accused posed as the officials from central investigating agencies and threatened the techie to frame him in a money laundering case if he did not give the desired amount. The police have arrested three people in this case.

The fraudsters had the information regarding the investment portfolio of victim Vijay Kumar beforehand. They had the data suggesting that Kumar had made 12 crore out of an investment of Rs 50 lakhs, police informed. The fraudsters posed as officials from the police, the customs department, and the Enforcement Directorate (ED). They threatened Kumar over an alleged money laundering case, adding that he will be detained in the case of non-cooperation.

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The victim shared some of the crucial details with the scammers, including Aadhaar, PAN Card, and KYC information, providing them access to his savings. The fraudsters exploited his savings by transferring a total amount of Rs 11 crore to nine different bank accounts, India Today reported. The victim did not object to the exploitation as he was convinced by the fraudsters that it was part of the government's process to clear his name in the case.

However, the victim later realised that he was trapped in an online scam and lodged a complaint with the Crime Police. A detailed investigation from the police revealed that the fraudsters had transferred a whopping amount of Rs 7.5 crore to a single bank account in Allahabad.

The police later found out that one of the accused used the amount to buy gold in Surat. While providing details, police stated that Dhaval Shah, one of the main accused, bought gold, assuring that the asset was not in the public domain. The probe also revealed the international link into the case where it was known that Shah had received instructions from a Dubai-based fraudster.

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He had earned Rs 1.5 crore commission for arranging the purchase for Shah. The investigation confirmed that the gold was transferred to an unidentified person called "Neel Bhai." The police have lodged a case under the sections of the IT Act and Bharatiya Nyaya Sanhita (BNS) and have arrested three accused till now.