Kutch Cybercrime Police Unearth Major Financial Fraud Operation
In a significant crackdown, the Kutch (East) Cybercrime police have exposed a large-scale financial fraud scheme involving alleged illegal transactions totaling Rs 182.37 crore. Authorities have arrested four key individuals, while many others remain at large, highlighting the extensive nature of this criminal network.
Modus Operandi: Fake Firms and Shell Businesses
The investigation uncovered that the accused established multiple savings and current bank accounts under the names of fictitious companies and shell businesses. These accounts were allegedly utilized to route and launder funds obtained from cyberfrauds perpetrated across the country.
DSP Sagar Bagmar of Kutch (East) provided insights into the operation: "The fraudsters targeted vulnerable individuals from various villages, enticing them with promises of easy money. They persuaded these people to lend their identities for setting up fake businesses. To create an illusion of legitimacy, shops were rented in Gandhidham and Adipur."
Exploitation of Digitally Illiterate Victims
Fictitious business entities were registered in the names of residents from Rapar, Adesar, Bhuj, and Wankaner. Many of these individuals were digitally illiterate and unaware that their documents were being misused. Their identity papers were allegedly employed to execute sale deeds for shops, obtain GST registrations, open current bank accounts, and purchase SIM cards. Each person reportedly received a commission ranging from Rs 5,000 to Rs 10,000 for their involvement.
Police explained that physical shops with GST numbers were essential to open current accounts capable of handling high-value transactions. The accused ensured that the individuals whose documents were used remained present during verification visits by bank and GST officials to avoid raising suspicion. "These current accounts were used to process transactions worth crores under the guise of legitimate business activities," an officer stated.
Nationwide Money Trail and International Links
Investigators traced suspected cyberfraud proceeds deposited into these accounts, with withdrawals occurring in multiple states, including West Bengal, Maharashtra, Tamil Nadu, Delhi, Haryana, Uttar Pradesh, Karnataka, Rajasthan, Punjab, Bihar, and Telangana.
A police officer added: "The gang appears to be operating from various states. The possibility of masterminds based abroad is also under active investigation."
Arrests and Ongoing Manhunt
The four arrested accused—Yash Bhatia (27), Siddharth Soni (34), Sahil Sharma (26), and Alpesh Luhar (40)—are residents of Gandhidham. They acted as brokers or commission agents, facilitating fund transfers between accounts and earning a percentage from each transaction.
So far, authorities have identified deposits of Rs 182.37 crore into 81 bank accounts. These accounts are linked to at least 74 cyberfraud complaints registered across India.
Meanwhile, police are actively searching for other alleged key operators, including Illubha Jadeja, Vishwarajsinh Vishubha Jadeja, Vijay Rana, and Hardik Rajgor, as the investigation continues to expand.
