Real Estate Agent Denied Bail for Aiding Cyber Fraud in Mumbai

MUMBAI: A special CBI court recently refused bail to a 33-year-old real estate agent arrested for allegedly facilitating a cyber fraud of over ₹7.72 crore. The court stated that people who allow their bank accounts to be used for such criminal activities “cannot escape from the criminal liability”.

The special court rejected the bail plea of Kamleshkumar Mali, observing that he had played an active role in “committing the fraud and duping innocents”.

According to the police, the complainant, an elderly woman, received a call on July 4, 2025, from someone posing as an official from the Telecom Regulatory Authority of India (TRAI). The fraudster informed her that accounts had been opened with the Canara Bank using her identity documents and that these accounts were used in the money laundering case involving Jet Airways founder Naresh Goyal. The caller claimed the case was being investigated by the Colaba police station.

The complainant then received a WhatsApp call from one Ajay Basariya, who pretended to be a senior police inspector. He threatened to freeze her bank accounts and arrest her if she did not cooperate in the “investigation”. Subsequently, Basariya informed her that she was under “digital arrest”. Over a period of time, the fraudster coerced her to sell shares and transfer over ₹7.72 crore to various bank accounts provided by him.

After draining her life savings, the fraudsters ended their communication with her. That’s when the woman realized she had been cheated and lodged a complaint with the cyber police. The investigating officers found that ₹65 lakh of the proceeds of crime had been credited to a bank account in the name of Captown Realties Pvt Ltd, a company owned by Kamleshkumar Mali.

The prosecution further informed the court that ₹2.72 crore was deposited in Mali’s bank account between July 1 and August 27, 2025, and the sum was later withdrawn.

On the other hand, advocate Tauqeer Siddiqee, appearing for Mali, submitted that his client had been falsely implicated and deserved to be released on bail. He claimed that Mali worked as a real estate agent and, in good faith, had allowed his friend and absconding accused, Kunal Athiya, to use his bank account. The advocate claimed that Athiya had misused the account without Mali’s knowledge, and that he was prepared to return the money credited to his bank accounts.

Public prosecutor Ramesh Siroya opposed the bail plea, contending that no satisfactory reason had been given by Mali for the amounts credited to his bank account and that further investigation was necessary. Siroya informed the court that a huge sum involved in the crime was not yet recovered and that there were other accused who were absconding.

Special Judge AV Gujarathi rejected Mali’s bail plea, remarking that it was “crystal clear” that he had facilitated the crime. The court added that he had not filed a criminal complaint against Athiya for cheating him or misusing his bank account, and that Mali’s bank account had been used in at least three cyber frauds. This made it “clear that he was aware of the malafide intentions of the co-accused”.