Punjab Police Bust Inter-State Cyber Fraud Gang, Recover Rs 5.25 Crore

The Punjab Police have busted a gang of inter-state cyber fraudsters who duped industrialist Shri Paul Oswal of Rs 7 crore. Two cyber criminals have been arrested and Rs 5.25 crore recovered. The gang consisted of nine members from Assam and West Bengal. Efforts are ongoing to apprehend the remaining suspects.

Punjab Police on Sunday dismantled a gang of inter-state cyber fraudsters who had defrauded renowned industrialist Shri Paul Oswal of Rs 7 crore. The swift action led to the arrest of two cyber criminals and the recovery of Rs 5.25 crore.

According to Ludhiana Police Commissioner Kuldeep Singh Chahal, efforts are underway to capture the seven other members of the gang, identified as residents of Assam and West Bengal. Oswal, owner of Vardhman Group, was targeted by fraudsters who withdrew Rs 7 crore from his various bank accounts after one posed as a CBI officer, showing a fake arrest warrant and threatening digital incarceration.

The cyber cell registered the case based on Oswal's complaint and resolved the case within 48 hours. The arrested individuals, identified as Atanoo Choudhary and Anand Kumar Choudhary from Guwahati, Assam, are the primary suspects. This is the second such incident within a week, the first involving local industrialist Rajnish Ahuja, who was similarly defrauded of Rs 1.01 crore.

(With inputs from agencies.)