The victim, a resident of RS Puram, received a phone call from unidentified persons claiming to be police officers from Mumbai. They told him that his bank transactions were under scrutiny and claimed that his account had been used to transfer money for terrorist activities.

The fraudsters then told him that he had been placed under digital arrest and instructed him not to leave his residence, speak to anyone over the phone or meet relatives and friends in person.

“The callers further claimed that armed police personnel in plain clothes were keeping watch near his residence and warned that he would be arrested unless he transferred the money in his bank account to accounts specified by them for verification,” police said.

Fearing arrest, the industrialist sent Rs 5.5 crore in two instalments on September 8 and 9 to bank accounts provided by the fraudsters. They subsequently told him that more money remained in his account and threatened him with arrest unless he withdrew and transferred it as well.

Acting on their instructions, the elderly man went to the bank and withdrew another Rs 3.5 crore. The unusually large withdrawals within a short period raised suspicion among bank officials, who questioned him about the transactions. He told them that the money was required for business purposes.

However, his nervous demeanour aroused further suspicion, prompting the bank officials to alert the Coimbatore city cyber crime police.