In a major breakthrough, the Uttar Pradesh Police, with assistance from the Kolkata Police, arrested Sukant Bandyopadhyay, the prime accused in a ₹200 crore cyber fraud case. The arrest was made late Sunday night from a luxury apartment in Kolkata’s Anandapur area, where he had been hiding for months.
According to officials, Bandyopadhyay had floated a fake investment company to dupe hundreds of investors. To make his scheme appear legitimate, he created forged documents, launched a sophisticated website, and promoted the company aggressively through digital platforms.
Previously Arrested, Released on Bail, Then Absconded
Investigators revealed that Bandyopadhyay had earlier been arrested in a separate financial fraud case but was released on bail. After his release, he fled from Lucknow to Kolkata and stopped appearing before the court. As a result, a non-bailable arrest warrant was issued against him by a Lucknow court last week.
On Sunday, using technical surveillance and local intelligence, the police tracked his location and raided his residence. He was taken into custody and later sent to Lucknow on transit remand for further questioning.
IT Experts and Middlemen Part of the Fraud Network
Initial investigations indicate that Bandyopadhyay was not working alone. He was supported by a network of IT professionals, financial advisors, and intermediaries, who helped design fraudulent investment schemes and target victims through social media campaigns.
Police suspect that a significant portion of the defrauded money was transferred abroad through cryptocurrency and offshore bank accounts. The Enforcement Directorate (ED) and Cyber Crime Unit have now joined the investigation to trace the flow of funds.
UP Police: “A Multi-State Financial Web”
A senior Uttar Pradesh Police officer described the operation as part of a much larger financial network spanning multiple cities, including Lucknow, Noida, Kolkata, and Bengaluru. Preliminary findings suggest that the total value of the scam may exceed ₹200 crore.
“This arrest is just the beginning,” the officer said. “Interrogation of Bandyopadhyay is expected to reveal several more names linked to this organized fraud.”
A Stark Reminder of India’s Evolving Cybercrime Landscape
Experts believe the case underscores the growing sophistication of financial cybercrime in India. Fraudsters are increasingly using legitimate-looking business models to exploit digital investors rather than relying on conventional hacking techniques.
For law enforcement, the arrest marks a significant success; for citizens, it serves as a warning to verify the authenticity and credentials of online investment platforms before committing funds.
Next Steps: Asset Seizure and Network Expansion Probe
Authorities are now examining Bandyopadhyay’s financial assets, bank accounts, and digital transaction records. Investigators hope the arrest will lead them to other key members of the interstate fraud network.
As the probe deepens, this case stands as a stark example of how technology-enabled financial fraud is evolving into one of India’s most serious economic threats—endangering both public trust and personal savings.
