Sneha Tibrewal

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02/08/2026

An internal audit at ICICI Bank uncovered a ₹23 crore fake gold loan scam involving 159 fraudulent accounts across nine branches in Nagpur, executed between January 2023 and October 2025. The ICICI Bank Official Support portal handles reporting for unauthorized actions or complaints.Overview of the FraudDiscovery: Revealed during routine internal audits when inspectors found counterfeit metal instead of genuine gold inside pledged packets.Scope: 159 account holders and 9 branches affected in the Nagpur region.Timeline: Active over a two-year period from January 2023 to October 2025.Investigation and ArrestsAction: The Economic Offences Wing (EOW) filed a case at the Dhantoli Police Station based on complaints from bank zonal authorities.Suspects: Investigators found collusion involving borrowers, middlemen, bank-appointed gold valuers, and branch managers.Arrests: Multiple arrests have been made, including branch managers like Pankaj Kekatpure and Dinesh Nagpure, alongside certified gold valuers and auditors.

06/07/2026

This Man Checked Into Luxury Hotels Without Paying... For Decades! 😳

He allegedly posed as a foreign tour guide, English teacher, and yoga instructor to gain the trust of hotel staff. For nearly three decades, he reportedly stayed in luxury hotels without paying—until police finally caught him. 😳 Would you have suspected him?

27/06/2026

₹2.51 crore was lost to fake trading apps in a sophisticated social engineering attack.

An 80-year-old resident of Cox Town, Bengaluru, Vaidyanathan was defrauded of ₹2.51 crore after falling victim to a sophisticated social engineering attack carried out through a fake online investment scheme.

The Incident

The fraud began in January 2026, when Vaidyanathan came across a Facebook advertisement offering stock tips and block trading opportunities in IPOs.

The promotion falsely claimed to be associated with a reputed private bank and its securities division.

Trusting the authenticity, he shared his personal details through the link provided.

Soon after, he was contacted by individuals posing as bank officials, including a woman identifying herself as Anvika Mehra.

They guided him through the process and convinced him to download two mobile applications—KOTMOT and KOTPRO—from the Google Play Store.

These apps appeared legitimate but were actually fake stock trading apps designed to display fabricated real-time profits. At one point, the apps showed his investment growing to nearly ₹5 crore, creating a false sense of success.

Using this as leverage, the fraudsters introduced an IPO opportunity and pressured him to deposit an additional ₹3 crore to secure allotment.

Police Complaint & Investigation

When Vaidyanathan attempted to withdraw funds or seek support, all communication stopped. The apps became unresponsive, and even the WhatsApp group posing as official support went silent.

Realizing the fraud, a complaint was filed with the cybercrime authorities.

Police have registered a case under:

Sections 66C and 66D of the Information Technology Act, 2000

Section 318(4) of the Bharatiya Nyaya Sanhita, 2023
Authorities are currently conducting digital forensic investigations to trace the transactions and identify those involved.

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Edited by- Shubham Sovasaria

26/06/2026

₹34,615 crore fraud in 17 banks 🤯🤯

The DHFL scam is one of the largest banking loan frauds in Indian history, involving an estimated ₹34,615 crore fraud against a consortium of 17 banks led by the Union Bank of India.

Here are the specific details and current status of the case:

Key Mechanisms of the ScamFake

Virtual Branch: Promoters Kapil and Dheeraj Wadhawan allegedly created a fictitious “Bandra Book” branch in their software system. Through this, they generated 2.60 lakh fake home-loan accounts.

Shell Companies: The funds were routed through 87 shell companies and round-tripped back to the promoters’ own entities, ultimately being used for personal enrichment, including the purchase of expensive art and luxury watches.

Government Subsidy Fraud: The Wadhawans also allegedly defrauded the Pradhan Mantri Awas Yojana (PMAY) housing scheme by using fictitious accounts to falsely claim interest subsidies.

Legal & Regulatory Actions

Arrests & Bail: The CBI arrested the Wadhawan brothers. While they temporarily secured medical bail from the Delhi High Court, the Supreme Court cancelled their bail.

The Delhi High Court subsequently denied bail to Kapil Wadhawan, citing the severity of the financial crime.

Asset Seizures: The Enforcement Directorate (ED) and CBI have persistently attached and seized assets—including real estate, luxury art collections, and watches—to recover siphoned funds.

Resolution & Takeover: Following the collapse, the housing finance company underwent the corporate insolvency process and was acquired by the Piramal Group for ₹34,250 crore.

Status for Depositors and Investors

Fixed Deposit Holders: DHFL had over 70,000 retail fixed deposit (FD) holders.

Under the resolution plan, FD holders whose dues were up to ₹2 lakh received their entire money back, whereas those with deposits above ₹2 lakh were heavily impacted, facing significant write-downs on their remaining amounts.

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22/06/2026

₹1.270 crore scam exposed in Rajasthan🤯🤯

Massive crop insurance scams have recently been exposed under the Pradhan Mantri Fasal Bima Yojana (PMFBY) across multiple districts in Rajasthan, amounting to suspected frauds worth over ₹1,270 crore.

The systematic irregularities involve corrupt nexuses of bank officials, insurance companies, and middlemen.

Key incidents and details include:

Massive Landless Farmer Fraud: Agriculture Minister Kirodi Lal Meena flagged a ₹1,150 crore scam where over 15,000 landless individuals across the state were insured by falsely declaring them as landholders, enabling illegal claim payouts.

Zero-Claim Manipulation: An initial probe into ₹122 crore of claims revealed that a private sector insurer (Kshema Insurance Company) marked loss applications from over 170,000 farmers as “zero percent” damage, denying genuine payouts.

Phantom Accounts & Forgeries: In Hanumangarh’s Pallu branch and Salasar, dozens of fake bank accounts and 162 insurance policies were created for non-existent farmers to illegally siphon off millions of rupees in government premiums. Similar complaints of forged sharecropper and land documents have emerged in Pali and Sri Ganganagar.

Government Action: The Rajasthan government handed over investigations to the Special Operations Group (SOG) and registered multiple FIRs. The state is pushing for the blacklisting of the involved companies at the central government level.

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21/06/2026

✅In a call forwarding scam, fraudsters typically impersonate courier agents and trick victims into dialing a specific USSD code (like 21 followed by a scammer’s number) under the guise of delivering a parcel.

✅This silently forwards all incoming calls and bank OTPs to the scammer, allowing them to steal money.

How the Scam Unfolds Step-by-Step

1. The ImpersonationThe scammer calls the victim pretending to be a delivery agent from a known courier company (e.g., FedEx, BlueDart, or DHL). They claim they cannot locate the victim’s address or that a parcel contains illegal items and requires “address verification”.

2. The TrickTo gain the victim’s trust, the caller offers to connect them with a “supervisor” or “customer care executive”. They tell the victim to dial a specific code (such as 401 followed by a 10-digit mobile number). They deceive the user by calling it a “technical extension code” or “courier troubleshooting code”.

3. Call Forwarding ActivationAs soon as the victim dials the code, they inadvertently activate unconditional call forwarding on their device. All incoming calls—specifically verification calls and voice OTPs from banks or messaging apps like WhatsApp—are silently rerouted to the scammer’s phone.

4. The TheftBecause the victim’s phone does not ring, they are completely unaware their calls are being intercepted. The scammer uses the redirected OTPs to log into the victim’s mobile banking, make unauthorized digital transactions, or hijack social media and messaging accounts.

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21/06/2026

₹58crore fraud in “digital arrest” scam🤯🤯

A 72-year-old Mumbai businessman was defrauded of ₹58 crore in a “digital arrest” scam between August and October 2025, the largest such case in India, involving scammers posing as CBI/ED officials over video calls. The victim transferred funds over 40 days while held under “digital house arrest”

Key Details of the Mumbai Scam (Oct 2025 - Apr 2026):

Method: Fraudsters used video calls, doctored documents, and fake “police” to threaten the victim regarding a money laundering case.

Loss & Investigation: ₹58 crore was transferred via RTGS through 18+ bank accounts.

Arrests & Action: Maharashtra Cyber arrested seven people (three initially, more in follow-ups), with links tracing to international syndicates (China, Hong Kong, Indonesia) using 6,500+ fake bank accounts.

Current Status: In April 2026, bail was granted to one of the accused, with courts noting the trial would take substantial time.

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20/06/2026

The Torres Jewellery scam was a massive ₹1,000 crore Ponzi and multi-level marketing (MLM) fraud in Mumbai operated by Platinum Hern Pvt Ltd.

The company lured thousands of investors with promises of impossibly high weekly returns (6% to 20%) on gemstone purchases before abruptly shutting down and fleeing.

The Modus Operandi
Unreal Returns: Investors were promised huge margins—in some cases up to 520% annually—on purchases of gold, silver, and moissanite gemstones, which were subsequently revealed to be cheap or fake.

Pyramid Structure: Investors received high weekly payouts for a period, which were funded entirely by bringing in newer investors. They were also offered large referral bonuses and luxury prizes like cars and smartphones to recruit friends and family.

The Crash: The scheme collapsed in late December 2024 when all payouts suddenly stopped. By early January 2025, stores were shut down, and enraged investors gathered outside showrooms in Dadar and other Mumbai suburbs to demand refunds.

The Investigation and Legal Action
Key Arrests: The Mumbai Police Economic Offences Wing (EOW) arrested several key figures, including the CEO, Mohammad Tausif Riyaz (also known as John Carter), and regional managers.

International Masterminds: Investigations revealed an international footprint. Many of the company’s directors were foreign nationals (primarily from Ukraine, Russia, and Uzbekistan). Reports indicate that eight of the twelve main accused fled the country just before the scam broke.

ED Involvement: The Enforcement Directorate (ED) launched a money-laundering investigation, conducting raids across multiple cities like Mumbai and Jaipur, which resulted in the freezing of millions in connected bank accounts.

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20/06/2026

₹500 crore fraud by a trading app🤯🤯

The HiBox trading app is a confirmed investment scam responsible for defrauding over 30,000 people of approximately Rs 500 crore.

The app, which promised high guaranteed daily returns, stopped paying users and vanished in 2024, leading to a major investigation by the Delhi Police.

Key Facts About the HiBox Fraud:

Modus Operandi: Launched in February 2024, the app offered guaranteed daily returns of 1% to 5%, promising 30% to 90% returns per month.

The Scam: Initially, the app paid out, encouraging further investment. By July 2024, payments were withheld, with excuses regarding technical issues or GST, before the operators closed their Noida office and disappeared.

Victims: Over 30,000 people were defrauded, with over 500 official complaints lodged with police.Mastermind Arrested: The main accused, 30-year-old J. Sivaram from Chennai, was arrested. Over Rs 18 crore was seized from his bank accounts.

Influencer Involvement: Many social media influencers and YouTubers—including Elvish Yadav, Bharti Singh, Saurav Joshi, Abhishek Malhan, and others—promoted the app. Several were summoned by the Delhi Police for investigation.

Investigation Updates (As of October 2024 - May 2026):Police Action: The Delhi Police IFSO unit is investigating.

Payment Gateways Involved: The role of payment gateways, including Easebuzz and PhonePe, is under scrutiny for facilitating transactions without proper verification of the merchant accounts.

Similar Incidents: Other scams with similar tactics, such as fake forex apps leading to massive losses, have been reported into 2025 and 2026.

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