The Enforcement Directorate has arrested a sixth individual in connection with a nationwide cyber fraud and money laundering syndicate operating under the pretext of digital arrests, which allegedly handled transactions worth around ₹30,000 crore. The accused, Mukesh Kumar Pukhraj Jain, alias Mukesh Bhai, was taken into custody on Friday, October 16, 2026. Following his production before a special Prevention of Money Laundering Act court in Panaji on Saturday, he was remanded to the custody of the agency until October 19. Investigators believe Jain operated as a Real-Time Gross Settlement agent who coordinated fund transfers to accounts affiliated with cybercriminal networks via intermediaries, collecting commissions for facilitating these illicit financial movements.
Origin in Goa Extortion Case and Modus Operandi
The federal agency launched its money laundering probe following a First Information Report filed by the Goa Police on June 9, 2025. The case originated from a complaint by a local woman who was allegedly coerced into transferring ₹2.60 crore between May 21 and June 2, 2025. Con artists impersonating law enforcement and central investigative personnel threatened to implicate her in a money laundering offense, pressuring her to deposit funds into so-called secret supervision accounts. Digital arrest is an extortion technique wherein fraudsters pose as government or police officials over voice and video calls, convincing victims they are under round-the-clock surveillance to force electronic fund transfers. Such procedures have no legal validity in India.
Layering Across 400 Accounts and Shell Entities
Financial tracing by investigators revealed that the funds extorted from the Goa victim were routed through nearly 400 separate bank accounts. The proceeds were subsequently withdrawn in cash and converted into foreign exchange through money changers authorized by the Reserve Bank of India to obscure the audit trail. The financial network spanned several interconnected entities dealing in commodity trading, travel services, and foreign currency exchange, showing aggregate banking transactions topping ₹27,850 crore. Cash deposits across these firms stood at roughly ₹2,904 crore, with ₹584.70 crore deposited through bulk note acceptance machines across the country via 61,448 transactions. Enforcement officials also discovered shell companies whose registered directors were drivers and low-wage employees residing in single-room accommodation.
Countrywide Fraud Links and Continuing Investigation
Bank accounts tied to the corporate network under scrutiny have been linked to at least 300 cyber fraud complaints and 163 First Information Reports registered across 20 states and Union Territories, reflecting reported losses of ₹417.49 crore. Investigative teams carried out searches across multiple premises in Goa and Mumbai in July, followed by another enforcement drive on August 21, seizing approximately ₹3.25 crore in cash. With six individuals now arrested by the Panaji zonal unit, the agency is actively examining the wider nexus of intermediaries, RTGS handlers, and foreign exchange channels used to absorb cybercrime proceeds into legitimate commerce. All charges remain subject to ongoing investigation and judicial proceedings.
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