S Delhi: ₹23cr digital arrest case now with CBI

A major cyber fraud case involving a retired banker who lost ₹23 crore has been transferred to the CBI after a Supreme Court directive.

The biggest cyber fraud reported in the Capital in September last year, in which a retired banker from south Delhi’s Gulmohar Park lost nearly ₹23 crore, has been transferred to the Central Bureau of Investigation (CBI), officials aware of the matter said.

The victim was coerced into selling his equity shares and transferring ₹22.92 crore in multiple transactions to bank accounts of the accused. (Shutterstock)

A senior Delhi Police officer confirmed the development, saying the case was handed over to the CBI in the second week of March. “The transfer followed a Supreme Court direction asking the state government to grant permission. After the sanction, the case was handed over in the second week of March,” the officer said.

In February, the Supreme Court took suo motu cognisance of rising “digital arrest” cyber frauds involving forged documents, noting losses of up to ₹10 crore and their severe impact on senior citizens. The court said, “The CBI has identified a threshold of losses of ₹10 crore or more for investigation of digital asset-related cases. At present, three such cases have been identified in the states of Gujarat and Delhi. State governments have been directed to grant the necessary permissions within one week.”

The victim, Naresh Malhotra, was coerced into selling his equity shares and transferring ₹22.92 crore in multiple transactions to bank accounts of the accused. Police said the cybercriminals impersonated Mumbai Police officials and threatened him, alleging his Aadhaar details were linked to bank accounts used for terror funding and the Pulwama attack. They also threatened to harm his family if he disclosed the matter to anyone.

Police had earlier arrested five people in connection with the case.

“I was satisfied with the probe by Delhi Police and I am happy with what the CBI is doing,” Malhotra said.