Barrackpore raid links Pawan Ruia to ₹317 crore cyber fraud case
Barrackpore raid links Pawan Ruia to ₹317 crore cyber fraud case
Police say ₹317 crore was routed through 148 shell companies, with about ₹170 crore converted to cryptocurrency to dodge tracing.
The cybercrime wing of West Bengal Police has busted a ₹317-crore online fraud involving 148 shell companies, many sharing the same registered address. The operation led to raids on the home and offices of businessman Pawan Ruia and several associates after their names surfaced in an FIR tied to a nationwide cyber fraud case. Police stated that over 1,379 complainants across West Bengal and other parts of India were cheated of the massive amount. The funds were routed through numerous bank accounts of the shell firms and siphoned off to various mule accounts. Preliminary findings suggest that around ₹170 crore of the diverted funds was converted into cryptocurrency in an attempt to prevent law enforcement from tracing or freezing assets. A suo motu FIR was registered at Barrackpore Cyber Crime Police Station on November 5, naming Ruia, members of his family, and close associates, while noting that 11 directors linked to Ruia-controlled entities also hold positions on the boards of 186 other companies across India. Following the complaint, police teams conducted coordinated searches at Ruia’s residence, his offices, and those of several associates.
Cover image source: India repatriates 197 more citizens who escaped Myanmar’s cyber scam centres 🔗
