A shocking case of cyber fraud has emerged from Mumbai, where a 72-year-old businessman and stock market trader was conned out of ₹58 crore by fraudsters posing as Enforcement Directorate (ED) and CBI officials. The scammers falsely accused the businessman of money laundering and claimed to have “digitally arrested” him before siphoning off money from 18 of his bank accounts.

According to the Mumbai Police Crime Branch, the accused have been identified as Abdul Nasir Khulli, Arjun Kadwasra, and Jetharam Kadwasra. The trio allegedly intimidated the businessman and his wife by threatening them with legal action and arrest. Panicked by the threats, the victims transferred ₹58.13 crore via RTGS between August 9 and October 8. The fraudsters withdrew money from 18 different accounts during this period.

Police have arrested all three accused and are investigating further to trace the siphoned amount. Officials revealed that “digital arrest” scams are becoming increasingly common, where fraudsters use fake arrest warrants, fabricated documents, and even video calls to convince victims that they are under investigation.

In such scams, the victims are told that they can avoid legal trouble by transferring money to designated accounts. Many unsuspecting individuals have lost crores of rupees to this growing form of cybercrime, highlighting the urgent need for public awareness and caution against such fraudulent tactics.