Belagavi senior citizen duped of Rs 15 crore in digital arrest scam

Belagavi: In a major cyberfraud case, an 81-year-old businessman from the city has been duped of Rs 15.4 crore by fraudsters posing as central agency officials in a fake digital arrest scam. The case, registered at the City Cyber, Economic and Narcotics (CEN) police station on March 18, is the largest single-person cyberfraud reported in the district so far.According to police, the scam began on Feb 5 when the victim received a call from a person claiming to be a CBI officer. The caller alleged that the victim's bank account was linked to a money laundering case and threatened immediate arrest. To make the threat credible, the fraudsters sent a fake Supreme Court notice and kept the victim under constant psychological pressure.Fearing arrest, the elderly man shared his financial details and transferred money in multiple phases between Feb 7 and March 9. The amounts ranged from Rs 1 crore to Rs 2.5 crore per transaction. A significant portion of the funds came from his long-held stock market investments, which he was persuaded by fraudsters to liquidate and transfer to his bank account under the pretext of verification.Investigations reveal that the fraudsters used layered bank transactions to siphon off the money. Calls are suspected to have originated from Uttarakhand. Police have frozen several accounts linked to the case, including one containing Rs 90 lakh, and a special investigation team has been formed. Officials said recovery of the funds will depend on legal procedures.Police sources said the victim's father invested a modest sum in shares years ago. Over time, the value of these investments grew substantially to over Rs 15 crore. Even his stockbroker noticed unusual withdrawals, including nearly Rs 6 crore being liquidated within 10 days. When questioned, the elderly man stated he needed funds to purchase land, indicating he was already under the influence of the scammers.City police commissioner Bhushan Borse has formed a special investigation team to track the case. In a release, the commissioner said that there is no concept of digital arrest and urged citizens not to panic or transfer money under pressure from fraudsters. He emphasised the need for greater awareness, especially among senior citizens, who are increasingly being targeted in such scams.Police have advised the public to verify suspicious calls, avoid sharing financial details, and immediately report cyberfraud through helpline 1930 or the official cybercrime portal.