In a recent case of digital fraud, Vardhman Group chairman SP Oswal fell prey to a complex scam that resulted in him losing ₹7 crore. The scam involved fraudulently impersonating high-ranking officials and preparing fake legal documents in a Supreme Court hearing. Today's article will delve into the elaborate scheme and the following police investigation.
The Initial Call: Setting the Trap
The scam started with a fake phone call on August 28. In the call, Oswal was told that his phone would be switched off if he did not press a certain button. This made him think he was speaking to officials of the Central Bureau of Investigation (CBI). The caller claimed that there were irregularities related to a bank account in Oswal's name, which rang alarm bells for the 82-year-old industrialist.
The Naresh Goyal Connection
The fraudsters making the fake call linked Oswal's status to that of high-profile businessman Naresh Goyal, who was currently under investigation for money laundering, by claiming that an account linked to Goyal was created by misusing Oswal's Aadhaar details. The scammers then projected him as a suspect, making their claims more credible.
The Digital Arrest: A Manipulative Control
Oswal was told that he was in "digital custody" and must cooperate fully to avoid legal repercussions. The fraudsters created an environment of intimidation, claiming that any discussions about the case could lead to jail time under the National Secrets Act. They even conducted a fake video surveillance setup to monitor his actions, further reinforcing their control over him.
The Fake Courtroom: A Masterclass in Deception
The deception culminated when Oswal was presented in a virtual court where a person mimicking Chief Justice of India DY Chandrachud was presiding over the proceedings. He was shown fake legal documents bearing realistic symbols and seals, which led him to believe that the situation was legitimate. Under this pressure, Oswal transferred ₹7 crores to various accounts as "supervision funds.".
Police Action and Recovery Efforts
When Oswal realized that he had been cheated, he filed a complaint with the Punjab police. Taking advantage of the cybercrime coordination, the officials had frozen several accounts linked to the scam. So far, more than ₹5 crore has been recovered. This is one of the biggest recoveries in such cases in India. The police have also arrested two persons involved in the crime. The police are investigating the wider network behind this massive fraud.
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