Vardhman Group’s Oswal shares shocking details of Rs 7 cr scam involving fake CBI officers, says 'They said my a/c was linked to Naresh Goyal'

A group of cyber fraudsters posing as CBI officers cheated Padma Bhushan awardee S P Oswal, the chairman and managing director of Vardhman Group, out of Rs 7 crore.

In an interview with NDTV, Oswal (82) explained that a fraudster impersonated Chief Justice of India DY Chandrachud and created a fake virtual courtroom, along with documents that looked very real. This elaborate plan aimed to put him under “digital arrest” on August 28 and 29.

According to reports, Ludhiana Police Commissioner Kuldeep Singh Chahal announced that two cyber criminals have been arrested and Rs 5.25 crore has been recovered from them.

The industrialist stated that he received a phone call on September 28.

"I was told my phone would be disconnected unless I pressed the '9' button. 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,” Oswal told NDTV.

Oswal mentioned that the caller asked him about a Canara Bank account in his name. When Oswal replied that he didn’t have any such account, the caller claimed that financial irregularities had been reported for that account.

Oswal told NDTV that the fraudsters claimed an account in his name was used for financial irregularities connected to the case against Naresh Goyal, the former chairman of Jet Airways, who was arrested last year in a money laundering investigation.

"They told me I am a suspect. I told them that it was not my account and that I did not know Naresh Goyal. They said the account had been opened using my Aadhaar details. I told them that I have travelled in Jet Airways, so I may have shared the details for identification, and they have a record,” he told NDTV.

The official, who spoke to Oswal via video call, claimed that the industrialist's documents might have been misused. "They said I was a suspect until their investigation was finished and that I was in digital custody. They assured me they would try to protect me and asked for my full cooperation," Oswal said, noting that this gave him some confidence.

Identifying himself as Rahul Gupta, the chief investigating officer, the fraudster sent Oswal around 70 rules for surveillance. Oswal was also asked to write a letter requesting a priority investigation. "They questioned me about my childhood, education, and entry into business. They asked for details about my properties. I told them I couldn't remember everything but would discuss it with my manager first," Oswal added, mentioning that the fraudsters recorded his statement while posing as officials.

Oswal said he was under video surveillance all the time. "Whenever I left my room, I would inform them and take my phone so they could see me," he explained. They told him he couldn't discuss the matter with anyone because it was under the National Secrets Act and warned that both he and anyone he spoke to could face three to five years in jail.

Digital house arrest is when cybercriminals trap victims in their homes to scam them. The criminals create fear by making audio or video calls, often pretending to be law enforcement officials using AI-generated voices or videos.

Oswal mentioned that the fraudsters wore civilian clothes and displayed ID cards around their necks. He also told NDTV that an office with the Indian flag was visible in the background during the video call. While speaking to him, they showed a fake courtroom where a man posing as Chief Justice of India DY Chandrachud heard his case and issued an order. This order was later sent to him via WhatsApp. Following that, he was instructed to deposit Rs 7 crore into different accounts.

A fake arrest warrant served to Oswal had the Enforcement Directorate's name on it and included the signature of someone named Niraj Kumar, who was claimed to be an assistant director at the ED. NDTV noted that a real arrest warrant from the ED does not have the Mumbai Police's stamp.