Gandhinagar (Gujarat): In a major breakthrough against organised cybercrime, the Cyber Centre of Excellence of CID (Crime), Gandhinagar has dismantled a large interstate cyber fraud syndicate and arrested 16 accused involved in operating a mule bank account network used to launder proceeds of online fraud and gaming scams. The investigation has revealed financial transactions exceeding ₹77.72 crore linked to at least 375 cybercrime complaints across India.
According to officials, the entire network was operating in a highly structured and coordinated manner. The accused opened multiple savings and current accounts in their own and others’ names and then handed over ATM cards, cheque books, SIM cards, and internet banking credentials to different members of the syndicate. These accounts were later used to route and layer illegally obtained funds in order to conceal their origin.
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Coordinated raids were conducted in Vadodara, Palanpur, and Goa based on specific intelligence inputs. In the Vadodara module, five individuals were arrested, including alleged mastermind Kiran Karshanbhai Joshi of Tharad and co-operator Siddharaj Ganpatbhai Shirwadia. Other accused include Mahesh Laljibhai Joshi, Jigar Rajubhai Solanki, and Prakash Ramjibhai Joshi.
Police said the group created fake business entities such as “Shivam Agency”, “Shivdhara Masala Business”, and “MR Water” to open multiple bank accounts that were later used for illegal transactions. Authorities recovered 13 mobile phones, 13 cheque books, passbooks, and several blank cheques during the operation.
In the Palanpur link, two accused—Meet Ratilal Shrimali and Mehul Babubhai Solanki—were arrested for allegedly opening multiple bank accounts and handing them over to the network. Their digital devices contained Aadhaar details, PAN cards, and sensitive banking information, which were allegedly used for fraudulent transactions.
The investigation further expanded after technical analysis revealed that several transactions were being routed through Goa. A subsequent operation led to the arrest of nine additional accused from the state. Among them, Jitubhai Bhurabhai Thakkar of Patan has been identified as a key coordinator of the wider network.
A large quantity of electronic equipment was seized from Goa, including 15 laptops, 72 mobile phones, 126 SIM cards, 115 debit cards, routers, pen drives, and QR code materials. Officials also recovered rental agreements suggesting the use of multiple locations to carry out illegal operations discreetly.
Forensic examination has uncovered extensive digital evidence, including bank transaction records, login credentials, cybercrime complaint data, and chat logs. Investigators also found WhatsApp and Telegram group communications with suspected international links, including contacts based in Dubai, indicating possible cross-border coordination.
Cybercrime experts have warned about the growing threat of such networks. Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said:
“Mule account networks have become the backbone of modern cyber frauds. Criminals first gain control of ordinary bank accounts and then use them through layering to hide the money trail. Real-time monitoring and strict KYC enforcement by banks are essential to break such networks.”
He further added that scams such as digital arrest frauds, investment scams, and UPI frauds heavily depend on mule accounts, and dismantling them is key to disrupting the entire ecosystem.
Officials stated that the syndicate was involved in multiple fraud typologies, including digital arrest scams, investment frauds, UPI frauds, fake loan offers, part-time job scams, and online gaming frauds. The network was operating over 260 bank accounts simultaneously to circulate illicit funds across multiple states.
Data from the national cybercrime helpline (1930) indicates that more than 375 complaints are linked to these mule accounts, with total estimated losses of ₹77.72 crore.
Authorities confirmed that the investigation is still ongoing, and further arrests are expected as agencies continue tracing financial flows, identifying beneficiaries, and probing possible international connections behind the syndicate.
