In a high-stakes operation that reads like a thriller, fugitive Harshit Babulal Jain, the alleged mastermind behind one of Gujarat’s biggest betting and money-laundering rackets was extradited from Dubai and handed over to Gujarat Police. This dramatic deportation marks the 25th repatriation of a wanted criminal in 2025, reinforcing India’s growing success in tracking down financial fugitives.
How the crackdown unfolded
The Central Bureau of Investigation (CBI), working closely with Gujarat Police, the Ministry of Home Affairs (MHA), and the Ministry of External Affairs (MEA), finally cornered Jain after an Interpol Red Corner Notice was issued in August 2023. Dubai authorities responded swiftly, and Jain was flown back to India, landing at Ahmedabad International Airport on September 5.
Inside the ₹2,300-crore racket
Jain’s empire wasn’t small-time. His alleged operation exploited a network of dummy companies, forged documents, and fake bank accounts to run an illegal racket involving cricket betting and “dabba trading” in the stock market. From a March 2023 raid at Sumel Business Complex in Madhavpura, sleuths uncovered the full scale of the fraud: more than ₹2,300 crore funneled through over 480 active accounts, with ₹962 crore already frozen by authorities.
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What’s next
Court documents show Jain has been placed under five days’ police custody to facilitate interrogation. Investigators aim to uncover the identities of co-conspirators and beneficiaries, the functioning of the super ID system operated from abroad, and how digital platforms and apps facilitated betting and fund transfers. They also plan to map Jain’s overseas money trails and recover additional frozen assets.
This case delivers a powerful message: India is closing in on white-collar fugitives, regardless of their global footprints. With Jain’s deportation added to an already active investigative effort, the state is signaling renewed resolve and the betting underworld should be on notice.
