Ahmedabad: A cyberfraud network accused of routing more than Rs 116 crore through shell companies and bank accounts has been busted by Gujarat’s Cyber Centre of Excellence. Seven Surat residents have been arrested under Operation Mule Hunt 2.0.Investigators said the accused floated bogus companies and opened 18 bank accounts across multiple banks. These accounts were allegedly used in at least 146 cyberfraud cases registered across 21 states. Checks on the National Cybercrime Reporting Portal and other coordination platforms linked the accounts to complaints and acknowledgements involving more than Rs 116 crore. Of these, Gujarat accounted for 14 acknowledgements, officials said.According to investigators, the racket operated from offices in Surat’s Mota Varachha and Jahangirpura areas and was allegedly managed by three partners. The group is accused of procuring bank account kits along with sim cards linked to those accounts before supplying the ready-to-use accounts to cybercriminals.Police said money transferred by victims was routed through multiple bank accounts before being withdrawn and passed on through different channels to conceal the trail. The account providers allegedly earned a commission for each account supplied.The seven arrested accused have been identified as Rakesh Pokal, Gautam Savani, Jaydeep Savani, Mayur Tejani, Akshay Kathiriya, Mayar Savani and Henil Narola, all residents of Surat. Police said Gautam Savani had previously been arrested in serious criminal cases.Officials alleged that the accused floated at least three shell companies — Pokaarchtex (OPC) Private Limited, Genram (OPC) Private Limited and Tran Chhar Tech (OPC) Private Limited — to open and operate bank accounts.The accounts were allegedly used in cyberfrauds involving fake investment schemes, UPI scams, deposit fraud and trading fraud. Victims were contacted through SMS, WhatsApp and Telegram by fraudsters posing under false identities and promising high returns on investments, police said.During the operation, investigators seized 13 mobile phones. They are now analysing bank transactions and digital evidence to identify other handlers, beneficiaries and possible overseas links connected to the network.
