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Time of India
5 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
5 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
5 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
5 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 !
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Business Standard
5 days ago
- Business Standard
Gujarat cops bust cyber crime racket; transactions worth Rs 1,455 cr found
International cyber criminals routed Rs 1,455 crore in six months using 89 bank accounts provided to them on commission basis by three men from Surat in Gujarat, police officials said on Friday. This was found out after Kirat Jadwani, Meet Khokhar and Mayur Italia were arrested on May 28 for cheating and forgery after the recovery of 21 debit cards, 30 cheque books and six PAN cards issued to different individuals, Udhna police station inspector SN Desai said. They were arrested after one of their associates was caught with PAN cards and stamps of various firms during a routine vehicle check in Udhna, he said. "We found the trio had opened 165 bank accounts using documents of people who had applied for personal loans. They gave access to these accounts to cyber criminals for crimes such as digital arrest, hawala transfer, task fraud, betting, stock market fraud, online cheating and OTP fraud," said Desai. The three came in contact with cyber criminals based in Cuba, Thailand and Malaysia through Telegram app, who offered to give them lucrative commission for use of these bank accounts, Desai said. "We have so far received details of 89 of these 165 accounts from the bank. Transactions worth Rs 1,455 crore were done in these 89 accounts in just six months by cyber fraudsters. Each of these accounts were used for a few days to route the money to other bank accounts or cryptocurrency wallets," Desai informed. None of these bank accounts are active because they were frozen immediately after the victims registered complaints, the official added. As per a preliminary probe, the National Cyber Crime Reporting Portal has so far received nearly 2,500 complaints, including 265 in Gujarat, against these 165 bank accounts used by the cyber criminals to dupe victims across India in six months, Desai said. 'The trio used to collect documents of people by promising them to get a personal loan using their contacts. Using those documents, they used to open a bank account and return the documents to the owner claiming that the loan application was rejected. Since they used to give their own mobile number to get an OTP, the applicant never realised that a bank account had been opened in their name," said Desai. In the beginning, the trio had given each bank account for a one-time rent of Rs 7 lakh to 17 lakh and then charged 3 to 4 per cent of the total transaction in the account, he said. "In just six months, the three accused earned Rs 10 crore from commission as the transactions in each of these accounts used to continue all day. The total amount would go up to Rs 30 to 40 crore in each account," he said.