The Enforcement Directorate (ED) struck hard against a sophisticated cybercrime racket in Jalandhar, attaching ₹1.76 crore in bank balances on February 14, 2026. This action under PMLA targets money laundering from a shocking ‘digital arrest’ fraud that bilked Vardhman Group’s Chairman S.P. Oswal out of ₹7 crore last year.
Ludhiana cyber police’s FIR kicked off the ED probe, revealing how con artists impersonated CBI officers to scare Oswal into compliance. The loot flowed through mule accounts like M/s Mrityunjay Multitrade, opened by exploiting economically weak people with fake job offers. Accomplices Rumi Kalita and Arpit Rathore funneled funds via entities such as Frozenman Warehousing and Riglo Ventures, blending scam proceeds with other cyber hauls before shipping them overseas.
Recent ED searches in late 2025 yielded incriminating evidence, resulting in the duo’s arrests and judicial remand. The network’s reach extends to 200+ mules and ₹1.73 crore from other victims, hinting at foreign handlers. This case highlights the growing menace of digital arrest scams, where fraudsters weaponize fear of law enforcement against high-profile targets. ED vows deeper probes to dismantle the entire operation and recover laundered assets.