Udhna cops bust 200cr cyberlaundering ring
Police came across bank transactions worth Rs 200 crore spread across 100 bank accounts. These accounts had been bought for Rs 8 lakh each. The account holders were paid for receiving and transferring the proceeds of cyberfraud.
Investigators seized many bank account kits, passbooks, cheque books, phones, laptops and cash counting machines from the Mota Varachha area after getting a lead during a vehicle checking drive on May 22.
Police arrested two men, Kirat Jadwani and Meet Khokhar, for allegedly running a cyberlaundering and cryptocurrency racket for the past year. Police presented both in court and secured five days of custodial interrogation.
"Jadwani first ran a textile machinery business and then a warehouse business. He later moved into the cryptocurrency business and met Delhi-based Vineet Prasad, who gave him 15 days of training.
During this, he had to get bank accounts to route cyberfraud proceeds, convert the money into the USDT stablecoin and transfer it. Jadwani met members of several gangs operating from Cuba, Malaysia, China and other countries.
He got bank accounts from brokers and paid a one-time fee of Rs 8 lakh to the provider," said an investigating officer.
After getting the money in the bank accounts, Jadwani would transfer it to other accounts and convert it into USDT after deducting his commission. "We found transactions worth Rs 200 crore across 100 bank accounts in the past year. One account had transactions worth Rs 42 crore made in four days, while another had transactions worth Rs 26 crore made in a short while. We also found Rs 1.40 crore in Jadwani's account."
The custodial interrogation of the duo will end on Wednesday and police are expected to present them in court to seek further remand. Police found that of the 100 bank accounts, at least 20 were listed in various cyberfraud FIRs.
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