Cyber Frauds and the Ship Captain's Tale: The Invisible Heist

A retired ship captain from Mumbai lost Rs 11.16 crore to a cyber fraud scheme promising high returns on stock investments. The victim was lured into a scam, initially seeing profits before being hit with a false tax charge. Police have arrested Kaif Ibrahim Mansuri in connection with the case.

A retired 75-year-old ship captain from Mumbai has been conned out of Rs 11.16 crore in a cyber scam that promised high returns from stock market investments, police revealed on Wednesday.

Authorities have apprehended Kaif Ibrahim Mansuri, a repeat offender, who was found with 33 debit cards and 12 chequebooks, all linked to various banks, as part of the investigation.

The victim, drawn by the promise of significant profits, initially experienced gains in his portfolio but was asked for a 20% service tax upon attempting to withdraw his funds, a demand that revealed the scam. An investigation unveiled that multiple bank accounts were used to extract funds, with a woman withdrawing Rs 6 lakh allegedly on Mansuri's orders. Police continue to probe further.

(With inputs from agencies.)