06 February,2026 11:58 AM IST | Mumbai | mid-day online correspondent
Retired IIT-B staffer was duped of Rs. 4.62 crore through cyber fraud. File pic
Two persons were arrested after a 74-year-old retired IIT-Bombay staffer was cheated of Rs 4.62 crore through threats of CBI action, with the money transferred to their bank accounts, police said.
The police officials further said the complainant, a woman, earlier worked as a medical officer with the Indian Institute of Technology (IIT) Bombay, as reported by news agency PTI.
An official while briefing about the incident asserted that Narendra Sinha and Gunjan Devkumar Dineshchandra were arrested for allegedly providing their bank accounts to cybercriminals to route the defrauded money.
The official emphasised, "The victim first received a video call from a person posing as a telecom department official, followed by another accused impersonating an IPS officer, who alleged that her Aadhaar card had been misused to open a bank account used to launder Rs 6 crore," as per PTI. She was told that the Central Bureau of Investigation (CBI) had registered a case in this regard, and she was likely to be arrested.
"Under pressure, the woman prematurely withdrew her fixed and recurring deposits and transferred Rs 4.62 crore between October 2025 and January 2026 into bank accounts provided by the cybercriminals. After realising she had been cheated, the woman lodged a police complaint," the official added.
According to the officials, a case of cheating by impersonation and offences under the Information Technology Act has been registered and was later transferred to the Western Region Cyber Cell for further investigation.
The officials also highlighted that a probe into the money trail zeroed in on Sinha and Dineshchandra, who had opened multiple bank accounts and provided them to cyber fraudsters, reported PTI.
Briefing about the investigation, the official added, "The amount that was deposited into these accounts was withdrawn by Sinha and Dineshchandra and handed over to cyber criminals in exchange for a commission. Based on these findings, the cyber cell arrested both the accused. Further investigation is underway to identify more persons involved in this case," as per PTI.
Earlier, the North Cyber Police in Mumbai had also arrested three Pune-based men for allegedly cheating a Borivli-based businessman of Rs 48.50 lakh by luring him into fake share market investment schemes promising high returns.
According to the police, the accused were engaged in different businesses but joined a cyber fraud syndicate in search of easy money and part-time income. They allegedly provided bank accounts to route the cheated money and earned commissions in return.
(With inputs from PTI)
