Punjab Police on Sunday dismantled a gang of inter-state cyber criminals involved in duping prominent industrialist Shri Paul Oswal of ₹7 crore. Ludhiana Police Commissioner Kuldeep Singh Chahal confirmed the arrest of two suspects and the recovery of ₹5.25 crore from their possession.

The police have identified seven additional gang members, all hailing from Assam and West Bengal, and are working to apprehend them. The fraudsters successfully withdrew ₹7 crore from various bank accounts belonging to SP Oswal, the owner of Vardhman Group.

According to authorities, one of the criminals posed as a CBI officer, showing the industrialist a fake arrest warrant and threatening him with a digital arrest. The cyber cell of the police took swift action, registering the case based on Oswal’s complaint and solving it within 48 hours.

The arrested suspects, identified as Atanoo Choudhary and Anand Kumar Choudhary, both from Guwahati, Assam, are now in police custody.

This case follows a similar incident earlier in the week, where another local industrialist, Rajnish Ahuja, was duped of ₹1.01 crore after fraudsters threatened him with an arrest warrant, falsely accusing him of having extortion money in his bank account.