Kolkata: A trader residing in the Taltala area of central Kolkata has been accused of orchestrating a financial fraud to siphon off around Rs 11 crore from the victim. The incident, reportedly began on or after May 8.
The Park Street Police Station registered a case following a complaint that alleges the accused and his associates of inducing the complainant to provide his credit card details so that they could provide financial support of Rs 2,79,400 for the complainant's business.
The complainant was reportedly manipulated into handing over their credit cards to the accused to arrange for these additional funds. Even as the complainant remained in the dark, the accused allegedly cloned these credit cards and siphoned off Rs 11,85,87,298, misappropriating the entire amount.
The police launched a thorough investigation into the matter, with efforts underway to trace the whereabouts of the accused using the money trail.
Cops have urged the public to exercise caution while investing in suspicious financial activities. Financial institutions are also being advised to review their security protocols to prevent similar incidents in the future. The case serves as a reminder of the vulnerabilities in the financial system and the need for vigilance among consumers and institutions.