Ex-MD Allegedly Defrauds Rs 4.8 Crore from Multinational Company

The former Managing Director of a multinational company fell victim to internet scammers who defrauded him of Rs. 4.8 crore. The Thane police’s cyber cell officially filed a complaint (FIR) against three individuals on Saturday, following the victim’s report on Monday.

The perpetrators posed as representatives of reputable organizations, coercing the victim into disclosing sensitive bank information, resulting in the theft of the substantial amount.

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The accused contacted the victim, alleging the discovery of illicit items, including MDMA, nine expired passports, and credit cards, in a package bound for Taiwan at the customs office of a well-known courier service.

The scammers claimed to possess the victim’s private data, including his Aadhaar card number, creating an illusion of surveillance. Furthermore, they informed him about a purported case filed against him at a Multinational Company Mumbai police station, Andheri, threatening an arrest warrant and legal consequences under anti-money laundering and drug sale laws.

The victim, under the impression of being investigated by central agencies, was instructed to download a video calling app. The con artists, adopting fake identities with counterfeit logos, assured him of exoneration. During the video call, the victim was coerced into revealing personal information, such as bank details, debit card information, and details about his real estate transactions in Pune and Murabad (in the Thane district). He was compelled to keep the camera on for future actions.

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Multinational Company, the scammers demanded additional personal information and accused the victim of engaging in an unlawful transaction. To comply, he transferred Rs. 1 crore to his wife’s account. However, realization dawned when he discussed the incident with his son residing in the UK. The investigation uncovered a fraudulent withdrawal of Rs. 4.80 crore from the victim’s account.

The FIR was filed based on the victim’s complaint, invoking relevant sections of the Information Technology Act and the Indian Penal Code to address the cybercrime.

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