Maharashtra Cyber Police Unveil Rs 58 Crore Scam, Arrest 5 for Laundering Rs 15.25 Crore

MUMBAI: The Maharashtra Cyber Police have made significant strides in their investigation into a massive Rs 58 crore digital fraud scam. The police have uncovered that a substantial portion of the stolen funds — Rs 15.25 crore — was funneled into a Bank account held in the name of Jai Bhavani Mechanical Works, owned by Jayeshbhai Dayabhai Bapa (31) of Bhavnagar, Gujarat.

The Maharashtra Nodal cyber police arrested Bapa along with four others — Sachin Govind Pekhale (37) of Nashik, Sheikh Fahim Sheikh Pasha (26) of Chhatrapati Sambhajinagar, and two Gujarat-based associates, Vishal, Ramesh, and Bipingiri Rameshgiri Goswami (42). Police said large amounts were routed through their accounts and later siphoned off to various destinations through a network of mule accounts and shell entities.

The accused were produced before a local court, which remanded them to police custody. During the remand hearing, defense counsels Adv. Avdesh Pandey and Adv. Rajan Tripathi argued that the arrests were made without serving prior notice under the law and sought judicial custody for their clients.

Officials said the probe has revealed an organized money-laundering operation spanning multiple states and countries. The funds moved through 27 mule bank accounts across Maharashtra, Gujarat, and Rajasthan before being transferred abroad. The trail points toward links in China, Dubai, and Cambodia, indicating a transnational cybercrime syndicate.

With the latest arrests, the total number of persons held in the case has risen to 26. Investigators are now focusing on the role of Bapa and his associates in layering and diverting the funds and are scrutinizing linked accounts and shell companies suspected to have facilitated the illegal transactions.

The case originated after a pharmaceutical businessman and his banker wife were duped of ₹58.13 crore by cyber fraudsters posing as officials from central agencies. The couple were allegedly shown fake video calls and clips depicting police stations, CBI and ED offices, and even mock courtrooms with actors posing as judges, officers, and lawyers. They were told that their bank accounts were under scrutiny for alleged money laundering and were coerced into transferring their entire savings “for investigation purposes,” with the assurance that the funds would be returned once cleared.