Surat Police Unearths Rs.1,445 Cr Int’l Cyber Fraud Racket

Surat, Gujarat  – In a chilling expose that has sent shockwaves through India’s financial landscape, Surat city police have dismantled an audacious international cyber fraud racket, revealing an astounding ₹1,445 crore in illicit transactions within just six months. What began as a routine vehicle check on May 27 escalated into the unraveling of a sophisticated network of bogus bank accounts, masterminded by individuals operating from abroad. The sheer scale of the fraud, involving 164 bank accounts, predominantly opened in Surat, underscores a frightening new dimension to online crime.

The initial breakthrough came when Udhna police apprehended two individuals, Kirat Jadwani and Meet Khokhar, during a vehicle check. Their subsequent interrogation led to the arrest of another accomplice and, crucially, the discovery of a staggering 164 bank accounts linked to the fraud.

DCP Bhagirathsinh Gadhvi revealed the shocking numbers: “Initially, two people were arrested during a vehicle checking. Accused Kirat Jadwani and Meet Khokhar were caught, and then another person was arrested. These accused were instrumental in opening bank accounts using details from various individuals. For each account, they received a commission ranging from ₹1 lakh to ₹7 lakhs, depending on transaction limits.”

The modus operandi was simple yet effective: the accused provided all account details to their handlers based overseas. These international masterminds then funneled cyber fraud proceeds through these accounts. Of the 164 accounts seized by Udhna police, 89 were opened in RBL Bank alone, showing transactions totaling a staggering ₹1,445 crore. Information on the remaining 75 bank accounts, including those in Yes Bank, Axis Bank, and SBI, is still pending from other banks, leading police to believe the final figure could be even higher.

“All the bank accounts in this cyber fraud incident were opened from Surat,” DCP Gadhvi emphasized. “They would target individuals who needed money, owners of struggling firms, or even those without a firm but with a GST number, to open current accounts. They’d pay a fixed amount to the account holder and then an additional two percent commission for transactions. So far, we estimate ₹4-5 crore has been paid in commissions.”

The investigations confirmed that the massive transactions were entirely derived from various forms of cyber fraud, including OTP scams, task-based frauds, digital arrests, and stock market profit deceptions – all orchestrated from outside India. The mobile numbers linked to these illicit accounts were found to be from countries like Singapore, Malaysia, Cuba, and Thailand, pointing directly to the international nature of the conspiracy.

The police have confirmed that all 164 discovered bank accounts are currently inactive, having been frozen as soon as a cyber fraud complaint was registered. This reveals a chilling detail: the fraudsters operated accounts for only three to four days before they were detected and frozen, necessitating the constant opening of new ones.

A key figure in the operation, Kirat Jadwani, is now in police custody. His personal finances are also under scrutiny, with police freezing ₹1.04 crore of his assets, suspected to be proceeds from the fraud. The investigation has revealed that Kirat Jadwani and Meet Khokhar, along with another accused named Divyesh, were directly involved in investing their illicit earnings in assets like cars, gold, and property.

The probe has identified a crucial link to a Telegram account named ‘Rich Pay’ based in Cuba. The arrested accused communicated with ‘Rich Pay’ via Telegram, providing bank account details for money laundering. The commission payments to the Surat operatives were made in USDT cryptocurrency, highlighting the sophisticated financial channels used.

The wider impact of this racket is significant. Investigations have revealed over 2,500 related cyber fraud complaints across the country, with 265 registered in various districts of Gujarat alone, and 36 specifically in Surat city. The initial lead came when police stopped a man named Rohan with suspicious documents in his moped. Rohan’s confession led to Meet Khokhar, who then exposed Kirat Jadwani. From Jadwani’s office, police seized 5 laptops, ₹3.50 lakh cash, 35 passbooks, ATM cards, and a money counting machine.

Further revelations point to the pivotal role of Mayur Italia, an MBA graduate who initially worked in marketing but later used his skills to build the “banking system” for this multi-crore fraud. Italia confessed to providing 30 fake bank accounts to Kirat and Divyesh since August 2024, valued at ₹1 lakh to ₹6 lakh each, opened under bogus GST numbers and textile companies to avoid suspicion.

The investigation continues, with authorities expecting more names to emerge as they unravel this complex web of deceit that has siphoned off crores from unsuspecting victims across India.