75-year-old retired refinery employee loses ₹7.86 crore to cyber fraudsters posing as Mumbai police and ED officials

Summary

A 75-year-old man in Kolhapur lost Rs 7.86 crore in a cyber fraud between May 26 and June 23. Cybercriminals posing as Mumbai police and Enforcement Directorate (ED) officials deceived the victim into making 14 money transfers to accounts in multiple cities. The fraudsters used fake Supreme Court, RBI, and SEBI letters to pressure the victim into selling his shares and transferring funds. The victim, a retired refinery employee, exhausted his savings from investments and fixed deposits. The Juna Rajwada police registered an FIR after the victim reported the incident, and investigation teams were deployed to trace the transferred funds.