A Call, Digital Arrest, Rs 7 Crore Transferred: How Vardhman Boss Was Duped

SP Oswal, chairman and managing director of the textile manufacturer, was put under digital arrest on August 28 and 29 and made to transfer Rs 7 crore into multiple accounts

A fraudster impersonating Chief Justice of India DY Chandrachud, a fake virtual courtroom and documents closely resembling original ones were part of the elaborate plan through which Vardhman Group head SP Oswal was duped of Rs 7 crore.

Mr Oswal, chairman and managing director of the textile manufacturer, was put under digital arrest on August 28 and 29 and made to transfer Rs 7 crore into multiple accounts. Police have managed to freeze these accounts and recover over Rs 5 crore so far. The 82-year-old industrialist spoke to NDTV about how the fraudsters convinced him that he was under probe in a money laundering case.

The First Call

Mr Oswal told NDTV that he received a phone call on September 28 (Saturday). "I was told my phone would be disconnected unless I press the button '9'. I pressed '9' and a voice on the other side said he was calling from CBI's Colaba office. He mentioned a mobile phone number in my name and said someone took the connection by misrepresenting me."