What began as a Paldi resident’s complaint of losing ₹24,988 to online fraudsters has snowballed into one of India’s largest money-laundering investigations. Police have uncovered a complex layering scheme tied to over 500 cybercrime complaints across 25 states, with six arrests and crores in cash seized.
A Complaint That Opened a Pandora’s Box
Ahmedabad police say the investigation began with what seemed like a routine case. In July, a Paldi resident reported losing ₹24,988 to cyberfraudsters. But when investigators tracked the digital trail through the National Cyber Crime Reporting Portal (NCCRP), they uncovered a vast laundering network spanning multiple states.
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Deputy Commissioner of Police (Zone 7) Shivam Varma said the breakthrough came when police realized that the same bank accounts kept surfacing in complaint after complaint. What began as a single fraud case soon connected to 518 registered cybercrime cases totaling ₹23.23 crore, making it one of the most far-reaching cyberfraud probes in recent memory.
The Layering Method: Turning Stolen Funds Into ‘White Cash’
At the heart of the scheme was a laundering technique called “layering”—where stolen money is moved repeatedly through multiple accounts to obscure its origin. Unlike traditional cybercriminals who transfer money overseas or into cryptocurrency, this syndicate relied entirely on the Indian banking system. Funds were withdrawn in large cash sums through self-cheques, a method police say gave the appearance of legitimate transactions.
Inspector Manju Pardava explained: “These fraudsters did not move funds into foreign wallets. Instead, they circulated the money within Indian banks, pulling it out as white cash.”
The investigation zoomed in on a Yes Bank account linked to 136 separate complaints, repeatedly used as a hub to shuffle money. The trail eventually led to Union Bank accounts and a Jubilee Hills Merchant account, which together handled the bulk of the fraud. Of the ₹23.23 crore traced, ₹9.68 crore was frozen or flagged as disputed during the probe.
Arrests, Cash Seizures, and Wider Implications
Police have so far arrested six suspects: Arifkhan Akbarkhan (32), Ashwinkumar Natwarlal (41), Smit Satishchandra (20), Rakesh Savaram (24), Jagdishkumar Mahendrabhai (33), and Jasmine Rajubhai (38). The arrests were made possible through CCTV evidence, bank trails, and coordination with cybercrime units.
The crackdown also led to the recovery of ₹3.16 crore in cash, 15 mobile phones, three cheques, nine chequebooks, and four bags, exposing the elaborate infrastructure of the fraud. Police officials described the operation as one of the most significant domestic cybercrime laundering revelations in recent years.
“This was not just about stolen money it was about exploiting the loopholes of the banking system at scale, the fact that one small complaint led us to a nationwide syndicate shows how critical digital trail analysis has become.” a senior officer said.