Posing as CBI officials, fraudsters dupe 81-year-old of ₹15 Cr, 2 held

Police have arrested two Hyderabad residents for their alleged involvement in a ‘digital arrest’ scam that defrauded an 81-year-old businessman of over ₹15 crore , officials said.

The accused, Venkatesh Sharath Naik and Degavat Sripada Naik , were nabbed following a coordinated operation by the Cyber Command Unit after a case was registered on March 18 at the Belagavi City Cyber Crime Police Station.

Investigators said the victim was targeted through a sustained impersonation scheme lasting nearly six weeks , during which fraudsters posing as CBI officials contacted him via phone and video calls. They falsely accused him of involvement in financial wrongdoing, claiming he had received a ₹5 lakh commission for laundering ₹25 lakh.

Under the pretext of an investigation and threatening arrest in a money laundering case , the scammers coerced the victim into sharing sensitive banking details and transferring funds to a purported “safe” or “government” account , promising the money would be returned after verification.

A breakthrough came when police tracked a ₹2 crore transaction to a Hyderabad-based account. Further probe uncovered at least 10 beneficiary accounts across multiple states, indicating a wider network.

During questioning, the accused admitted to handing over their bank account details, internet banking credentials, and cheque books to an absconding handler. Police suspect the involvement of a larger interstate cybercrime syndicate .

The victim grew suspicious after the callers became unreachable and later approached the police.

Officials warned that such scams exploit fear and authority by mimicking law enforcement agencies. They reiterated that no legitimate agency demands money during investigations and urged the public to verify claims before transferring funds.