Vardhman Group CEO SP Oswal Duped of Rs 7 Crore; Two Arrested
Punjab Police apprehended a gang of inter-state cyber fraudsters on Sunday for duping noted industrialist Paul Oswal, CEO of Vardhman Group, of ₹7 crore. Ludhiana Police Commissioner Kuldeep Singh Chahal announced the arrests of two individuals, from whom ₹5.25 crore has been recovered.
The police have identified seven other members of the gang, all hailing from Assam and West Bengal, and efforts are underway to apprehend them. The fraudsters managed to withdraw ₹7 crore from various bank accounts belonging to Oswal by deceiving him.
One of the suspects posed as a CBI officer, presenting a fake arrest warrant and threatening Oswal with a digital arrest, according to police reports. The cyber cell registered a case following Oswal’s complaint and successfully solved the case within 48 hours.
The arrested individuals have been identified as Atanoo Choudhary and Anand Kumar Choudhary, both residents of Guwahati, Assam. This incident marks the second such case reported within a week, as another local industrialist, Rajnish Ahuja, was duped of ₹1.01 crore under similar circumstances, after being threatened with an arrest warrant linked to an alleged extortion amount transferred to his account.
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