The Udhna police in Surat have arrested four persons in connection with a massive cyber fraud racket involving the supply of mule bank accounts and SIM cards to an international cybercrime syndicate, with the overall fraud estimated at nearly ₹1,550 crore, officials said on Monday.
Those arrested include a money transfer agent accused of providing a mule bank account in his father’s name, two managers of an angadia (traditional courier) firm, and an individual suspected to have links with a Chinese cyber fraud network. During the operation, police seized cash, gold, silver and rough diamonds collectively valued at around ₹2.60 crore.
According to investigators, the arrests followed a detailed analysis of bank transactions that revealed suspicious fund movements of approximately ₹90 lakh through an account held at Bandhan Bank in the name of Jagdish Chandra Choksi. Police said the account was allegedly operated by others for routing proceeds of cyber fraud.
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The probe dates back to May 21, 2025, when Udhna police intercepted a two-wheeler rider during a routine vehicle check and recovered multiple PAN cards bearing different identities along with a proprietor’s stamp. The recovery led investigators to uncover a wider network engaged in opening bank accounts using forged documents and supplying complete account kits, along with registered SIM cards, to overseas cybercrime operators.
Officials said the network specialised in creating and maintaining mule accounts—bank accounts opened in the names of unsuspecting or proxy individuals—which were then used to receive and launder money generated through online frauds targeting victims across multiple countries.
So far, the Udhna police have identified around 164 such mule bank accounts linked to the racket. With the latest arrests, the total number of accused held in the case has risen to 25. Police have also filed a voluminous charge sheet running into nearly 1.5 lakh pages, reflecting the scale and complexity of the investigation.
During interrogation, investigators found that funds siphoned off through cyber frauds were first routed into the account held in the name of Jagdish Chandra Choksi. The account was allegedly operated online by Abdul Rab Khatia, police said. Money withdrawn from the account was then deposited at the office of Chirag alias Charlie Sutaria and Pravin Gadhia in the Mahidharpura area.
Police allege that the cash was subsequently converted into cryptocurrency, primarily USDT, and transferred back to the international cyber fraud operators, allowing the syndicate to move funds across borders while evading traditional banking checks.
Following the arrests of Chirag Sutaria and Pravin Gadhia, police conducted searches at their office premises and bank lockers. The searches led to the seizure of ₹1.92 crore in cash, 288.96 grams of gold valued at ₹39.36 lakh, 10.8 kg of silver worth ₹27.43 lakh, and 413.37 carats of rough diamonds. Four currency counting machines were also recovered from the premises.
All four accused were produced before a local court and remanded to police custody for five days to facilitate further questioning and recovery of evidence.
Udhna Police Inspector Shailesh Desai said the accused earned commissions ranging from ₹300 to ₹350 for every ₹1 lakh transferred through the mule accounts. “Analysis of bank statements shows transactions of around ₹90 lakh through the account used for the fraud. We are examining additional accounts and digital trails to identify the full extent of the network,” Desai said.
He added that the investigation is ongoing and that police are coordinating with central agencies and financial institutions to trace international linkages and identify additional beneficiaries.
The case has once again highlighted the growing challenge posed by organised cybercrime networks that exploit gaps in banking and telecom systems to run large-scale fraud operations. Police said further arrests are likely as the probe expands to cover additional accounts, intermediaries and overseas handlers.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
