Retired Captain Falls Victim to Rs 11.16 Crore Cyber Fraud

A retired ship captain has lost Rs 11.16 crore in a cyber fraud scheme over four months, involving fake stock market investment returns. The mastermind, Kaif Ibrahim Mansuri, has been arrested with multiple debit cards and cheque books. The police investigation is ongoing.

A retired ship captain became the victim of a massive cyber fraud, losing Rs 11.16 crore over a span of four months. This alarming case was brought to light by police authorities on Wednesday.

Kaif Ibrahim Mansuri, a history-sheeter, was apprehended in connection with the scam. Authorities uncovered 33 debit cards and 12 cheque books associated with different banks in his possession. The fraud revolved around promises of lucrative returns on stock market investments, an official confirmed.

The victim initially saw profits in his investment account but hit a roadblock when he tried to withdraw his earnings, being asked for a steep 20% service tax. Realizing the deception, he reported to the South Cyber police. Investigation revealed multiple bank accounts were used to siphon funds, including a significant withdrawal connected to Mansuri. Further inquiries are underway.

(With inputs from agencies.)