Latest news with #Jadwani
Time of India
3 days ago
- Time of India
Massive cybercrime racket busted in Surat: Rs 1,455 crore laundered through 90 bank accounts; accounts tied to Cuba, Malaysia, Thailand
SURAT: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months. The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts. The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank kits. The probe led to a raid at an office in Mota Varachha operated by Kirat Jadwani, Meet Khokhar, and Mayur Italiya, all of whom were subsequently arrested. Police recovered a trove of incriminating documents, cash, stamps, and banking kits. According to investigators, an international cybercrime syndicate — with operatives based in Cuba, Malaysia, and Thailand — used these accounts to park defrauded money linked to various online scams. The accounts were opened in private banks such as RBL, Axis, Yes Bank, and Kotak Mahindra, primarily through their branches in Vesu, Sahara Darwaja, and Varachha. Another major revelation during the probe was that 2,500 cybercrime complaints across India were linked to 165 bank accounts connected with the accused. Of these, 265 complaints were from Gujarat, including 36 from Surat cyberfraud victims alone. Deputy commissioner of police (zone-2) Bhagirath Gadhvi confirmed that Rs 1,455 crore worth of transactions were recorded in the 90 RBL bank accounts scrutinized over the past six months. "Some accounts had transactions ranging between ₹10 crore and ₹50 crore. Complaints on the national cybercrime portal confirmed these accounts were used to route funds from digital arrest scams, online betting, and other cyber frauds," Gadhvi told TOI. Udhna police inspector SN Desai added, "We found 2,500 cybercrime complaints linked to these accounts nationwide. The scale and spread of this fraud are unprecedented." Jadwani, one of the key accused, had reportedly suffered heavy losses in the warehouse business after which he turned to cybercrime in July 2024. He would identify individuals in financial distress and pay them up to Rs 8 lakh in exchange for their identity documents, which were then used to open current accounts. Some of these accounts were also opened in the names of non-existent companies. Jadwani allegedly earned around Rs 10 crore in commissions for renting out these accounts to cybercriminals. Desai added: "We found Rs 1.40 crores from Jadwani's accounts, which were frozen. In 90 bank accounts we checked, we found that Rs 1.10 crores was seized by different agencies and banks." Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Time of India
3 days ago
- Time of India
Massive cybercrime racket busted in Surat: Rs 1,455 crore laundered through 90 bank accounts
SURAT: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months. The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts. The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank kits. The probe led to a raid at an office in Mota Varachha operated by Kirat Jadwani, Meet Khokhar, and Mayur Italiya, all of whom were subsequently arrested. Police recovered a trove of incriminating documents, cash, stamps, and banking kits. According to investigators, an international cybercrime syndicate — with operatives based in Cuba, Malaysia, and Thailand — used these accounts to park defrauded money linked to various online scams. The accounts were opened in private banks such as RBL, Axis, Yes Bank, and Kotak Mahindra, primarily through their branches in Vesu, Sahara Darwaja, and Varachha. Another major revelation during the probe was that 2,500 cybercrime complaints across India were linked to 165 bank accounts connected with the accused. Of these, 265 complaints were from Gujarat, including 36 from Surat cyberfraud victims alone. Deputy commissioner of police (zone-2) Bhagirath Gadhvi confirmed that Rs 1,455 crore worth of transactions were recorded in the 90 RBL bank accounts scrutinized over the past six months. "Some accounts had transactions ranging between ₹10 crore and ₹50 crore. Complaints on the national cybercrime portal confirmed these accounts were used to route funds from digital arrest scams, online betting, and other cyber frauds," Gadhvi told TOI. Udhna police inspector SN Desai added, "We found 2,500 cybercrime complaints linked to these accounts nationwide. The scale and spread of this fraud are unprecedented." Jadwani, one of the key accused, had reportedly suffered heavy losses in the warehouse business after which he turned to cybercrime in July 2024. He would identify individuals in financial distress and pay them up to Rs 8 lakh in exchange for their identity documents, which were then used to open current accounts. Some of these accounts were also opened in the names of non-existent companies. Jadwani allegedly earned around Rs 10 crore in commissions for renting out these accounts to cybercriminals. Desai added: "We found Rs 1.40 crores from Jadwani's accounts, which were frozen. In 90 bank accounts we checked, we found that Rs 1.10 crores was seized by different agencies and banks." Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Time of India
3 days ago
- Time of India
Surat cybercrime probe uncovers Rs 1,455 crore laundered via 90 bank accounts linked to Global syndicate
SURAT: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months. The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts. The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank kits. The probe led to a raid at an office in Mota Varachha operated by Kirat Jadwani, Meet Khokhar, and Mayur Italiya, all of whom were subsequently arrested. Police recovered a trove of incriminating documents, cash, stamps, and banking kits. According to investigators, an international cybercrime syndicate — with operatives based in Cuba, Malaysia, and Thailand — used these accounts to park defrauded money linked to various online scams. The accounts were opened in private banks such as RBL, Axis, Yes Bank, and Kotak Mahindra, primarily through their branches in Vesu, Sahara Darwaja, and Varachha. Another major revelation during the probe was that 2,500 cybercrime complaints across India were linked to 165 bank accounts connected with the accused. Of these, 265 complaints were from Gujarat, including 36 from Surat cyberfraud victims alone. Deputy commissioner of police (zone-2) Bhagirath Gadhvi confirmed that Rs 1,455 crore worth of transactions were recorded in the 90 RBL bank accounts scrutinized over the past six months. "Some accounts had transactions ranging between ₹10 crore and ₹50 crore. Complaints on the national cybercrime portal confirmed these accounts were used to route funds from digital arrest scams, online betting, and other cyber frauds," Gadhvi told TOI. Udhna police inspector SN Desai added, "We found 2,500 cybercrime complaints linked to these accounts nationwide. The scale and spread of this fraud are unprecedented." Jadwani, one of the key accused, had reportedly suffered heavy losses in the warehouse business after which he turned to cybercrime in July 2024. He would identify individuals in financial distress and pay them up to Rs 8 lakh in exchange for their identity documents, which were then used to open current accounts. Some of these accounts were also opened in the names of non-existent companies. Jadwani allegedly earned around Rs 10 crore in commissions for renting out these accounts to cybercriminals. Desai added: "We found Rs 1.40 crores from Jadwani's accounts, which were frozen. In 90 bank accounts we checked, we found that Rs 1.10 crores was seized by different agencies and banks." Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Time of India
3 days ago
- Time of India
Rs 1,455 cr siphoned off in cybercrimes laundered using 90 bank accounts
Surat: The investigation into a massive international cybercrime racket busted last month in Surat has revealed a staggering Rs 1,455 crore was laundered through 90 bank accounts that were opened by misusing documents of needy people over the last six months. The total amount siphoned off could rise to Rs 2,000 crore, as the police are yet to examine details of another 75 suspicious accounts. The racket was unearthed on May 22, when Udhna police detained a man carrying suspicious stamps and bank kits. The probe led to a raid at an office in Mota Varachha operated by Kirat Jadwani, Meet Khokhar, and Mayur Italiya, all of whom were subsequently arrested. Police recovered a trove of incriminating documents, cash, stamps, and banking kits. According to investigators, an international cybercrime syndicate — with operatives based in Cuba, Malaysia, and Thailand — used these accounts to park defrauded money linked to various online scams. The accounts were opened in private banks such as RBL, Axis, Yes Bank, and Kotak Mahindra, primarily through their branches in Vesu, Sahara Darwaja, and Varachha. Another major revelation during the probe was that 2,500 cybercrime complaints across India were linked to 165 bank accounts connected with the accused. Of these, 265 complaints were from Gujarat, including 36 from Surat cyberfraud victims alone. Deputy commissioner of police (zone-2) Bhagirath Gadhvi confirmed that Rs 1,455 crore worth of transactions were recorded in the 90 RBL bank accounts scrutinized over the past six months. "Some accounts had transactions ranging between ₹10 crore and ₹50 crore. Complaints on the national cybercrime portal confirmed these accounts were used to route funds from digital arrest scams, online betting, and other cyber frauds," Gadhvi told TOI. Udhna police inspector SN Desai added, "We found 2,500 cybercrime complaints linked to these accounts nationwide. The scale and spread of this fraud are unprecedented." Jadwani, one of the key accused, had reportedly suffered heavy losses in the warehouse business after which he turned to cybercrime in July 2024. He would identify individuals in financial distress and pay them up to Rs 8 lakh in exchange for their identity documents, which were then used to open current accounts. Some of these accounts were also opened in the names of non-existent companies. Jadwani allegedly earned around Rs 10 crore in commissions for renting out these accounts to cybercriminals. Desai added: "We found Rs 1.40 crores from Jadwani's accounts, which were frozen. In 90 bank accounts we checked, we found that Rs 1.10 crores was seized by different agencies and banks." Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Time of India
27-05-2025
- Time of India
Udhna cops bust 200cr cyberlaundering ring
Surat: Udhna police have busted a cyberfraud racket and arrested two persons who are allegedly linked to international gangs operating from Cuba, Malaysia, China and other countries. 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.
