Rajkot: Kutch (East) Cybercrime police unearthed a large-scale financial fraud operation involving alleged illegal transactions worth Rs 182.37 crore and arrested four key accused even as many others remain absconding.The investigation revealed that the accused opened multiple savings and current bank accounts in the names of fake firms and shell businesses. These accounts were allegedly used to route and launder money generated from cyberfrauds across the country.DSP, Kutch (East), Sagar Bagmar said, “The fraudsters preyed on vulnerable people from various villages, luring them with promises of easy money. They convinced them to lend their names to set up fake businesses. Shops were rented in Gandhidham and Adipur to give an appearance of legitimacy.”Fictitious business entities were set up in the names of residents of Rapar, Adesar, Bhuj and Wankaner. Many of them were digitally illiterate and unaware of how their documents were being misused. Their identity documents were allegedly used to execute sale deeds for shops, obtain GST registrations, open current bank accounts and purchase sim cards. Each person was reportedly paid a commission of Rs 5,000 to Rs 10,000.Police said physical shops with GST numbers were necessary to open current accounts capable of handling high-value transactions. The accused also ensured that the individuals whose documents were used remained present during verification visits by bank and GST officials to avoid suspicion. “These current accounts were used to process transactions worth crores under the guise of business activities,” an officer said.Investigators found that suspected cyberfraud proceeds were deposited into these accounts and later withdrawn from states, including West Bengal, Maharashtra, Tamil Nadu, Delhi, Haryana, Uttar Pradesh, Karnataka, Rajasthan, Punjab, Bihar and Telangana.“The gang appears to be operating from various states. The possibility of masterminds based abroad is also under investigation,” a police officer added.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, transferring funds between accounts and earning a cut from each transaction.So far, authorities 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 searching for other alleged key operators, including Illubha Jadeja, Vishwarajsinh Vishubha Jadeja, Vijay Rana and Hardik Rajgor.
