Two individuals have been arrested in Mumbai after a 74-year-old retired IIT-Bombay staffer was cheated of Rs 4.62 crore through threats of CBI action, police said.
The victim, a former medical officer at IIT-Bombay, was contacted by fraudsters impersonating a telecom official and an IPS officer, who falsely claimed that her Aadhaar card had been misused to launder Rs 6 crore. Believing she was under investigation, she withdrew her fixed and recurring deposits between October 2025 and January 2026 and transferred Rs 4.62 crore to accounts provided by the cybercriminals.
The Western Region Cyber Cell traced the money trail to Narendra Sinha and Gunjan Devkumar Dineshchandra, who had opened multiple bank accounts and provided them to the fraudsters in exchange for a commission. Both accused were arrested after the investigation confirmed their role in facilitating the scam.
Police have registered cases under cheating by impersonation and Information Technology Act violations, and further investigation is underway to identify other individuals involved.
Earlier, the North Cyber Police in Mumbai had arrested three Pune-based men for defrauding a Borivli businessman of Rs 48.50 lakh via fake share market investment schemes. Authorities noted that such syndicates often recruit individuals to provide bank accounts to launder fraudulently obtained money.
