The Surat Cyber Crime Unit has dismantled two gangs involved in large-scale cyber fraud operations, arresting eight people and exposing transactions worth ₹19.70 crore. The accused allegedly created and rented out multiple bank accounts to fraudsters across states, enabling a network of financial crimes.
How the Gangs Operated
Investigators revealed that the accused opened and controlled over 40 bank accounts used to funnel money from unsuspecting victims. One group operated through 25 accounts, handling around ₹3.35 crore, while another gang linked to two firms — Crossworld IT Solutions and Sonic Fincare — used 18 accounts to transact ₹16.35 crore.
Officials said these accounts were provided to fraudsters for a monthly commission. Fraudulent transactions spanned at least 13 states, indicating the wide geographical reach of the syndicate.
Raids, Arrests and Key Accused
During raids at Matador Trading Academy in Sarthana, police arrested 21-year-old Meet Shah and seized his mobile, which contained crucial evidence of multiple bank accounts. Shah identified two accomplices from Maharashtra — Rushi Sapkal and Yash Shinde — and local collaborator Nilesh Solanki.
Another key suspect is Sahil Gajera, owner of the Matador Academy, who has not yet been taken into custody. Police believe he played a central role in facilitating the fraud.
The crackdown also uncovered laptops, mobile phones, debit/credit cards, cheque books, company seals and fake letterheads. Investigators noted that one accused is linked to 67 registered cybercrime cases nationwide.
A Growing Cyber Crime Threat
Officials highlighted that the scale of the fraud shows how cybercriminals are exploiting banking loopholes and using fake firms to mask illicit money flows. The case underscores the importance of tighter verification systems for bank account openings and stricter surveillance of financial intermediaries.
The Surat Cyber Crime Unit is continuing its probe to track remaining accomplices and identify the masterminds operating beyond these arrested individuals.
