NEW DELHI — In August, 82-year-old SP Oswal was robbed of nearly 70 million rupees ($830,000) by fraudsters.
Oswal, who is chairman and managing director of Indian textile manufacturer Vardhman Group, admitted during a video call that he was involved in money laundering that required him to transfer large sums of money to several bank accounts. The fraudsters used a so-called 'digital arrest', which included everything from fake documents and voice modulation to the name of the Chief Justice of India, to convince the industrialist that the investigation was genuine and that he should deposit the funds.