FPJ Cyber Secure: Clothing Factory Owner Held For ₹3.62 Crore Fraud With 73-Year-Old

The Cyber Cell of the Mumbai Crime Branch has apprehended a suspect accused of orchestrating a fraudulent investment scheme, conning an amount totaling Rs 3.62 crore.

The victim, 73-year-old Fakruddin Yusuf Bagsarawala, lodged a complaint stating that he was ensnared through a WhatsApp group by a woman named Kala Anchira. Under the guise of her company, Bagsarawala was enticed to invest for lucrative returns.

Details of scam

To deceive Bagsarawala, the accused fabricated a fraudulent online agreement, which was sent via email. Falling victim to the ruse, Bagsarawala invested approximately Rs 3.62 crore with promises of substantial profits. However, when he attempted to withdraw the funds, he encountered obstacles.

Repeated pleas to the accused for the return of his money went unanswered, prompting Bagsarawala to report the fraud to the cyber cell on January 26. Following the complaint, the Cyber Cell West Region initiated an investigation, resulting in the arrest of 37-year-old Ketab Ali Kabil Biswas, a resident of Vakola who runs a clothing factory.

In response to the complaint, the police have frozen Rs 2.20 crore of the embezzled funds. The ongoing investigation seeks to uncover additional individuals involved in this fraudulent scheme. The case highlights the prevalence of cybercrimes targeting unsuspecting individuals through sophisticated online tactics.