A Delhi-based IAS coaching director was allegedly lured to Bhopal, confined in a rented flat and forced to transfer ₹1.89 crore.
The accused, including a former student of the academy, used a Sundarkand recital to mask the victim's calls for help.
Police said the plan hinged on trust and misdirection, with the victim being threatened at gunpoint and coerced into transferring the money.
Armed accomplices were already in place, and the accused used pistols and country-made firearms to intimidate the victim.
After the incident, the victim approached police, and authorities froze the recipient bank accounts to prevent the money from being withdrawn.
Six accused, including the main conspirator, have been arrested, and efforts are underway to return the frozen funds to the victim.
