Gandhinagar: In a major crackdown on financial cybercrime, the Cyber Centre of Excellence (CCoE) of Gujarat has arrested 16 accused involved in operating a large-scale mule account network in a multi-state operation. The syndicate is linked to cyber fraud exceeding ₹77 crore and 375 registered complaints across multiple states.

Acting on intelligence inputs, a special team led by Deputy Police Inspector K.B. Desai conducted coordinated raids across Baroda, Palanpur, and Goa. The operation resulted in the arrest of 16 individuals, including the primary kingpins identified as Kiran Joshi and Jitu Thakkar. Of those arrested, nine were apprehended in Goa, five in Baroda, and two in Palanpur.

The investigation revealed that the syndicate was linked to 375 registered cybercrime cases across multiple states via the 1930 Portal. The group’s primary function was to provide the “banking infrastructure” necessary to launder money stolen through various scams, including digital arrest threats, investment fraud, and gaming scams.

Technical analysis of the seized devices uncovered a sophisticated operation:

Mule Accounts: The accused managed more than 260 bank accounts used to rotate and conceal defrauded funds.

Shell Companies: Three fictitious firms were established to bypass banking scrutiny and facilitate high-volume transactions.

International Links: WhatsApp and Telegram chats revealed active coordination with foreign-based operators in Dubai, where bank account details were regularly exchanged.

Large-Scale Seizures

Law enforcement recovered a significant amount of digital and physical evidence during the raids. In Goa alone, officers seized 126 SIM cards, 115 debit cards, 80 passbooks, and 72 mobile phones. Additional equipment, including 15 laptops and multiple routers, contained incriminating data such as bank login credentials and PDF files of existing cyber fraud complaints.

Modus Operandi

• Creation of Mule Accounts: The accused opened, or facilitated the opening of, bank accounts in their own names and in the names of others to bypass banking scrutiny.
• Establishment of Shell Firms: Three fictitious firms were created to lend a veneer of legitimacy to the accounts and facilitate large-volume transactions.
• Account Supply Network: Over 260 bank accounts were collected and supplied to cyber fraud operators as conduits for receiving and rotating funds from victims.
• Fund Laundering through Multiple Modes: The proceeds of crime were routed through these accounts using complex layering techniques to evade detection. Methods included digital arrest scams, investment fraud, UPI-related fraud, deposit fraud, loan fraud, part-time job fraud, and gaming fraud.
• International Connections: The network maintained active communication with foreign-based operators, particularly in Dubai, through WhatsApp and Telegram groups for coordination and account-sharing.
• Commission-Based Infrastructure: The accused operated as a coordinated, commission-based network providing banking infrastructure to launder defrauded money. DeshGujarat