Elderly man robbed of over Rs 11 crore in cyber-fraud

Mumbai police arrested a history-sheeter with 33 debit cards

IH News Desk

NATIONAL, November 28, 2024: An elderly man in Mumbai has lost Rs 11.16 crore over four months in a cyber-fraud scheme that falsely promised returns on stock market investments. Kaif Ibrahim Mansuri, a history-sheeter, was arrested and found with 33 debit cards and 12 cheque books from different banks in his possession.

The victim, a 75-year-old former ship captain who had a keen interest in stock market investments was lured by fraudsters with promises of hefty returns on investments. When he attempted to withdraw his earnings, he was told to pay a 20% service tax fee.

The victim lodged a complaint with the South Cyber police station. Police found fraudsters using multiple bank accounts to steal the funds. Police said more arrests are likely as the investigation is underway.

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