A businessman from Maharashtra`s Thane district was allegedly kidnapped and forced to pay Rs 2.98 lakh by four persons, in what police suspect to be a case of business rivalry, an official said on Friday, reported news agency PTI.

The complainant, a resident of the Ulhasnagar area, told the police that one of the accused persons called him for a meeting on October 13 but took him to a secluded room near a quarry in Mharal village by pressing an object resembling a pistol against his back.

Once inside the room, all four accused forced him to disclose his GPay pin and transferred money from his account. They also made the complainant initiate transactions from his wife`s account, extorting a total of Rs 2,98,500, the police said, reported PTI.

Based on the businessman`s complaint, a case has been registered against the accused persons under the Bharatiya Nyaya Sanhita for kidnapping and extortion, said an official from Ulhasnagar police station, reported PTI.

“Preliminary investigation indicates that the motive behind the crime appears to be linked to business rivalry and monetary disputes. One of the accused, identified as Naresh Jaganmal Chabria alias Naresh Pakistani, has a history of involvement in local disputes,” he said, reported PTI.

Mumbai businessman loses Rs 58 crore in `digital arrest` fraud

In another case, a 72-year-old businessman in Mumbai has allegedly been duped of a staggering Rs 58 crore in a `digital arrest` scam orchestrated by fraudsters posing as ED and CBI officials, police said on Thursday, reported PTI.

The Rs 58 crore loss could be one of the largest reported in a `digital arrest` cyber fraud case involving an individual, an official said, reported PTI.

The Maharashtra cyber department, which is conducting a probe into the case, has arrested three persons, he said.

`Digital arrest` is a growing form of cyber crime in which fraudsters pose as law enforcement officials or personnel of government agencies and intimidate victims through audio/video calls. They hold the victims hostage and put pressure on them to pay money.

In the latest case, the fraudsters, posing as personnel of the Enforcement Directorate and the Central Bureau of Investigation, contacted the businessmen between August 19 to October 8 and claimed his name had cropped up in a case of money laundering, reported PTI.

The businessman got scared as they placed him and his wife under “digital arrest” after making a video call to him, the official said.

The fraudsters asked him to deposit money into the bank accounts specified by them.

The victim transferred Rs 58 crore through RTGS in multiple bank accounts within a span of about two months, the official said, reported PTI.

He later realised that he had been cheated and approached the cyber police with a complaint.

The cyber sleuths registered a case last week under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.

During the probe, the police analysed the financial trail and found that the money was transferred to at least 18 bank accounts, the official said, reported PTI.

They immediately approached the authorities to freeze the amounts transferred to multiple bank accounts, he said.

The police have identified three persons involved in the fraud — Abdul Khulli (47), from suburban Malad, Arjun Kadvasara (55) and his brother Jetharam (35), from Mumbai Central — and arrested them, the official said, reported PTI.

(With inputs from PTI)

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