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Cyber Police Stage Multi-State Raids, Uncover Rs 317-Crore Racket as Crypto Trail Points to Dubai

Authorities say the rackets route victim money through shell firms into cryptocurrency to frustrate recovery.

Overview

  • Crime Branch cyber units carried out coordinated raids across Delhi, Haryana, Uttarakhand and Punjab, arresting alleged masterminds of digital-arrest and investment scams and seizing three crypto wallets holding about 552,944 USDT, roughly Rs 5 crore.
  • Investigators named Sumit Kumar, Atul Sharma, Rahul Manda, Varun Anchal and Amit Kumar Singh among those held in separate cases, with one operator described as working under a Dubai-based handler.
  • The West Bengal Cyber Crime Wing traced a pan-India fraud network that allegedly siphoned about Rs 317 crore via 148 shell companies, seized devices and documents in November 6 searches at premises linked to industrialist Pawan Ruia, and said roughly Rs 170 crore was converted to crypto.
  • A separate report said Bengal police registered a money-laundering case naming Pawan Ruia, family members and linked firms, citing NCRP trails tying hundreds of complaints and layered accounts to the network, with further freezes and searches underway.
  • In related actions, a Mumbai magistrate denied bail to six accused in a Rs 58.13 crore digital-arrest case after 21 arrests, Panchkula police made arrests in a stock-investment and a digital-arrest case, and cyber units issued fresh public advisories as new victim complaints surfaced in Greater Noida West and Pimpri-Chinchwad.