Mumbai | A sessions court in Mumbai has rejected the bail plea of Riyaz Raji Sayyad, an accused who returned from Cambodia, in the high-profile ₹58 crore “digital arrest” fraud case. The court observed that the prosecution had clearly established his specific role in the conspiracy and that his position was distinct from that of other co-accused who have been granted bail. It further noted that, given the nature of allegations and his conduct, the possibility of tampering with evidence could not be ruled out.
The case is considered one of the largest “digital arrest” frauds in the country, in which a city-based businessman was allegedly cheated of ₹58 crore. The accused reportedly impersonated officials of TRAI, the Central Bureau of Investigation (CBI), and cybercrime units, using intimidation tactics and fabricated investigations to coerce the victim into transferring money in multiple instalments.
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Investigators said the scam continued over several weeks and involved the use of fake notices, video-call surveillance, and sustained psychological pressure. The victim was allegedly told that he was under investigation in a money-laundering case linked to Jet Airways founder Naresh Goyal.
According to the prosecution, Riyaz Raji Sayyad, along with co-accused Rohit Kelkar, facilitated a bank account into which ₹9.85 lakh of the fraud proceeds were transferred. The amount was subsequently withdrawn. It was also alleged that Sayyad received a commission for this arrangement and was additionally paid around ₹5 lakh, which he allegedly encashed on the same day.
Court records noted that the accused had absconded after the case was registered, prompting investigators to issue a Look Out Circular (LOC). He was later arrested upon his return from Cambodia at Delhi airport. Investigators also claimed that he had links with other absconding accused, including Prince Jaiswal and Sumit alias Smith Manager Giri.
Additional Sessions Judge Nitin V. Jiwane, while rejecting the bail plea, observed that the accused’s role was different from those co-accused who had already been granted bail. The court stated, “The role attributed to the present applicant indicates that he was part of the gang involved in commission of the offence and siphoning of the proceeds of crime, which differentiates his role from those already released on bail.”
The court further held that, considering the gravity of the economic offence, the accused’s past conduct, and the likelihood of influencing the investigation, bail could not be granted.
Cybercrime expert and former IPS officer Prof. Triveni Singh, commenting on such cases, said that “Digital arrest scams are evolving rapidly and have become part of organised cyber syndicates. He noted that perpetrators use psychological manipulation, impersonation of government agencies, and sophisticated digital tools to gain control over victims, leading to massive financial losses.”
He further added that strengthening monitoring of cross-border financial transactions, banking trails, and cryptocurrency flows is crucial, as such networks often operate across jurisdictions.
Investigators are currently continuing their probe into the financial trail and international links of the network to identify other involved individuals and trace the remaining proceeds of the crime.
