Bhavnagar Cybercrime Gang Launders Rs 719 Crore to Dubai, Ten Arrested

A cybercriminal network based in Bhavnagar has been dismantled by the Gujarat Police’s Cyber Centre of Excellence, following allegations of laundering over Rs 719 crore from victims of cybercrime across India. The investigation led to the arrest of ten individuals, including two employees from IndusInd Bank, for their roles in facilitating the operation.

Authorities revealed that the gang opened 110 mule accounts to facilitate the movement of funds from 1,594 fraud cases across 26 states and six Union Territories. The police identified the arrested individuals as Alpesh Makwana, Mahendra Makwana, Pratik Waghani, Vipul Dangar, Jayrajsinh Raijada, Guruprabsingh Tank, Tejas Pandya, and Divyarajsinh Zala, along with bank staff members Abubakarbin Shaikh and Parth Upadhyay.

The investigation commenced after intelligence from the Financial Intelligence Unit (FIU) highlighted suspicious banking activities. Using a combination of human intelligence, banking trails, and digital analysis, police tracked the gang’s operations, which included a variety of fraud schemes such as investment scams, digital arrest fraud, and job-task frauds.

Operation Details and Arrests

Investigators discovered that the syndicate had opened the mule accounts at the Bhavnagar branch of IndusInd Bank. Notably, 87 of these accounts were linked to 147 FIRs filed nationwide. The funds were subsequently funneled into 130 beneficiary accounts associated with 1,447 cybercrime complaints. By converting the stolen money into cash and USDT cryptocurrency, the gang transferred the laundered proceeds to handlers in Dubai, who are believed to have connections to a Chinese crime network.

The police indicated that further arrests could occur as the investigation broadens. “The financial trail continues to expand across multiple states, and we anticipate that more individuals involved may be apprehended,” a police spokesperson stated.

Role of Bank Employees

The operation was facilitated by the involvement of two bank employees, Abubakarbin Alibhai Sheikh and Parth Upadhyay, who allegedly expedited the account opening process. Applicants were reportedly brought to the branch in groups, allowing for rapid processing of their KYC documents and immediate activation of accounts. This streamlined approach enabled the syndicate to manage multiple mule accounts simultaneously, facilitating large-scale fraud without raising immediate concerns.

The ten individuals arrested played distinct roles within the organization. Five of them, including Alpesh Makwana and Mahendra Makwana, served as mule-account providers and withdrawal agents. Their responsibilities included opening accounts, withdrawing significant amounts of cash, and transferring funds onward. Raijada was also involved in converting part of the laundered money into USDT cryptocurrency.

The remaining members of the group, including Guruprabsingh Tank, Tejas Pandya, and Divyarajsinh Zala, managed the cryptocurrency aspect of the operation. Tank and Pandya assisted in converting the laundered funds and transmitting them to Dubai-based operators, while Zala is identified as a critical link to the international network.

As the investigation unfolds, law enforcement remains vigilant, emphasizing the need for continued scrutiny of banking practices and the monitoring of suspicious financial transactions to combat such sophisticated criminal enterprises.