Industrialist  SP Oswal duped of Rs 7 crore, 2 held

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Chandiarh, September 30

Punjab Police have busted an inter-state cyber fraud gang that duped textile industrialist S.P. Oswal, chairman of Vardhman Group, of ₹7 crore. Punjab Director General of Police (DGP) Gaurav Yadav commended Ludhiana Police on Monday for their efforts in cracking the case.

A gang of cyber fraudsters, posing as CBI officers, orchestrated an intricate scam that involved staging a fake Supreme Court hearing online, issuing fake arrest warrants, and conducting a two-day “digital surveillance over Skype. A manhunt is currently underway for seven others believed to be part of the group, with operations spanning across Assam, West Bengal, and Delhi, the police said.

Giving details, DGP Yadav said that, with assistance from Assam Police, two individuals were arrested in Guwahati, and seven others have been identified. The operation resulted in the recovery of ₹5.25 crore, ATM cards, and mobile phones, marking the largest recovery in India, according to I4C data. The Ludhiana Cyber Crime team received the Director General’s Commendation Disc for their exemplary work, he added.