MMDA Scam: Fraudsters Swindle Multinational MD Out Of Rs 4.8 Crore

Image Credit: Freepik

New Delhi: Online scams have the potential to cause significant financial harm, often resulting in the loss of substantial amounts of money. Today's news story highlights this issue, as a 67-year-old retired managing director of a multinational company in Thane has allegedly lost a staggering Rs 4.80 crore to an online fraud.

The Thane crime branch uncovered that the scammers, pretending to be officials from central agencies, falsely accused the victim of drug trafficking and warned of police action. This pressure led the victim to share his secret bank details, which the scammers exploited to steal money. The situation was brought to attention when the Thane police's cyber cell filed a report against three people. ()

Fraudsters threatened with arrest warrants

The victim got a call from the accused, who claimed they intercepted a package with illegal items like MDMA, passports, and credit cards bound for Taiwan, as per the complaint. To make it more convincing, the fraudsters had the victim's personal details, including his Aadhaar card number. They also mentioned an alleged case against him at the Andheri police station in Mumbai, threatening him with arrest warrants and legal issues linked to money laundering and drug peddling. ()

Information disclosed by victim

Disguised as part of an investigation, the fraudsters told the victim to download a video calling app, promising that an officer would handle the issue. Pretending to be from central agencies with fake logos, they pressured the victim into giving out personal information like bank account details, debit card numbers, and CVV codes. Moreover, the victim disclosed information about property deals in Pune and Murbad.

Victim understood that he has been tricked

The following day, the scammers accused the victim of making illegal transactions and said that the Reserve Bank of India (RBI) and a private bank were suspicious of his actions. They then told him to transfer Rs 1 crore to his wife's account, which he did. But after talking to his son who lives in the UK, the victim understood that he had been tricked.

Case filed under the Indian Penal Code

The investigation found out that a total of Rs 4.80 crore was taken from the victim's account. After the victim filed a complaint, the police registered a case against the accused under the Indian Penal Code and the Information Technology Act.