Palghar Police recover Rs 38.21 lakh for retired banker in fake Quantum AI scam
The Palghar Police have successfully recovered Rs 38.21 lakh out of Rs 48.53 lakh lost by a 70-year-old retired bank employee in a cyber fraud case. The victim was targeted in a fake 'Quantum AI Platform' investment scam, with the recovery of the funds reported by local law enforcement officials in Palghar on July 9, 2026.
The cyber crime began when the retired banker came across an advertisement on the social media platform Facebook. The advertisement promoted high returns through an entity calling itself the Quantum AI Platform. Following this initial contact, the perpetrators reached out to the victim through WhatsApp calls, further convincing him to invest by promising massive financial returns on his capital.
Based on these fraudulent promises, the 70-year-old victim transferred a total of Rs 48.53 lakh to the scammers. After realizing that he had been defrauded, the complainant approached the authorities, prompting the Palghar Police to initiate an investigation into the online investment scam.
During the subsequent cyber crime operation, police officers tracked the financial transactions and successfully froze and seized Rs 38.21 lakh of the stolen money.
While briefing about the breakthrough in the case, police officials stated that legal efforts are now underway to return the recovered funds to the retired bank employee. The department is currently in the process of obtaining the necessary court orders required to officially restore the seized amount to the complainant.
The case highlights the ongoing threat of online investment frauds targeting senior citizens in the region through fake digital platforms, Facebook advertisements, and WhatsApp calls.
