Delhi, September 23: A 78-year-old retired banker, Naresh Malhotra, was duped of INR 23 crore after fraudsters posing as officials from the Mumbai Police, Enforcement Directorate, and CBI held him under "digital arrest" for over a month in South Delhi’s Gulmohar Park. The scammers convinced him that his bank accounts were linked to illegal activities and terrorist funding, coercing him to follow strict instructions. Malhotra was forced to attend frequent video calls, sign undertakings to maintain secrecy, and transfer huge sums across multiple accounts.

According to an NDTV report, the scam began in early August when Malhotra received a call from a woman claiming to be a senior officer from a telecom company. She alleged that his mobile number had been used for fraudulent activities, setting the stage for a series of threatening calls. Over the next few weeks, multiple fraudsters, claiming to be officials from the ED, CBI, and Mumbai Police, repeatedly contacted him, convincing him that non-compliance would result in legal action and harm to his family. Work-From-Home Scam Busted; 4 Arrested for Duping Delhi Man of Over INR 17 Lakh.

To reinforce the deception, the scammers sent him fake bail orders and even provided instructions for managing small withdrawals for daily expenses, making the retired banker believe he was acting under legal supervision. The Indian Express reported that between August 4 and September 4, Malhotra visited three local bank branches in South Delhi to transfer a total of INR 22.92 crore in 21 separate transactions to 16 different accounts across multiple states. Delhi Classroom Scam: ACB Issues Summons to AAP Leaders Manish Sisodia, Satyendar Jain in INR 2,000 Crore Corruption Case.

The banks included HDFC, Kotak Mahindra, and Central Bank, among others, and despite the large sums being moved, branch staff reportedly did not suspect any foul play. Malhotra was made to follow strict instructions, even seeking the scammers’ approval for routine withdrawals, while believing it was necessary to protect himself and his family. NDTV further reported that after finally refusing to transfer an additional INR 5 crore to a private company account in West Bengal, Malhotra realised the scale of the fraud and approached the police on September 19.

The Intelligence Fusion and Strategic Operations (IFSO) unit of the Delhi Police registered an FIR and began tracing the complex money trail. So far, approximately INR 2.67 crore of Malhotra’s funds have been frozen, but investigators face challenges due to the layering of the stolen money through over 4,200 transactions across the country, while investigations continue to track the perpetrators. Joint Commissioner Rajneesh Gupta noted that the delayed reporting and multi-layered transactions complicate recovery, but stressed that law enforcement is actively tracing the funds

TruLY Score by LatestLY
Rating:3

TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (NDTV and Indian Express), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(The above story first appeared on LatestLY on Sep 23, 2025 01:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).