In a shocking case of cybercrime, a businessman from Cuttack was swindled out of ₹40 lakh by fraudsters impersonating senior executives of a reputed car manufacturing company, police said on Wednesday.

The victim, who aspired to open a car showroom in Sambalpur, filed a complaint with the cyber police. The fraudsters allegedly directed him to submit essential documents via the company’s purported official website.

The businessman transferred the amount after being convinced of the fraudsters’ authenticity. “A case has been registered, and a detailed investigation is underway to trace the culprits,” an official stated.

This incident underscores the growing threat of cyber fraud and highlights the importance of verifying credentials before engaging in financial transactions.