Goa digital arrest: ED arrests 3 more, including CA, in ₹2.60 crore fraud
Synopsis
What began as a single ₹2.60 crore digital arrest fraud in Goa has unravelled into a sprawling money laundering network spanning 20+ states, 163 FIRs, and ₹417.49 crore in reported losses — with banking transactions exceeding ₹27,850 crore. The arrest of a chartered accountant who allegedly managed 21 shell companies and 43 dummy directors signals the ED is now targeting the professional enablers who make such networks invisible.
Key Takeaways
The ED arrested Bhushan Suryakant Moye (CA), Vilas Narayan Pawar , and Shailesh Dagdu Chavan on 27 August 2025 under PMLA .
Total arrests in the case now stand at five ; all three are in ED custody until 1 September 2025 .
The victim, a Goa resident, was coerced into transferring ₹2.60 crore via a fake video-call 'criminal investigation' ruse.
The fraud network spans 400+ beneficiary accounts , 330 victim complaints , and 163 FIRs across 20+ states and UTs , with reported losses of ₹417.49 crore .
Banking transactions through the network's accounts exceeded ₹27,850 crore , according to the ED.
The CA accused allegedly incorporated 21 shell companies with 43 dummy directors to launder fraud proceeds.
The Enforcement Directorate (ED) has arrested three more accused in the Goa digital arrest cyber fraud case — including a chartered accountant — in connection with the coerced transfer of ₹2.60 crore from a Goa resident into accounts fraudulently described as 'Secret Supervision Accounts'. The arrests, made on 27 August 2025 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, bring the total number of persons arrested in this case to five.
Who Was Arrested
Bhushan Suryakant Moye, a Chartered Accountant, Vilas Narayan Pawar, and Shailesh Dagdu Chavan were taken into custody by the ED's Panaji Zonal Office on 27 August. The Special Court (PMLA), Goa, has remanded all three to ED custody until 1 September 2025 for questioning. Earlier, Fahim Moin Hussain Sayed and Naim Mueen Sayyed had been arrested on 23 August 2025.
How the Fraud Was Executed
According to the ED, the victim — a resident of Goa — was kept on a video call by the accused, made to believe she was under criminal investigation, and coerced into transferring ₹2.60 crore into accounts falsely presented as official supervision accounts. The case was registered under FIR No. 17/2025, dated 9 June 2025, by the Cyber Crime Police Station, North Goa.
The Money Laundering Network
The ED's investigation revealed a sophisticated laundering apparatus: the proceeds of fraud were received as banking credits, converted into cash, and then routed into foreign currency through companies holding Full Fledged Money Changer licences issued by the Reserve Bank of India (RBI). The funds were fragmented across more than 400 beneficiary accounts and channelled through companies whose registered directors are reportedly persons of no financial means, with the accounts operated by others to project the proceeds as legitimate.
According to the ED, the entities involved are the subject of 330 victim complaints and 163 First Information Reports across more than 20 states and Union Territories, with reported losses totalling ₹417.49 crore. The accounts have carried banking transactions exceeding ₹27,850 crore.
Role of Each Accused
Bhushan Suryakant Moye, the chartered accountant, allegedly incorporated 21 companies within the network using identity documents supplied to him, and managed those companies along with their 43 dummy directors as a single group — filing their income-tax returns collectively rather than as individual assignments. Vilas Narayan Pawar reportedly arranged the RTGS entries through which tainted funds were transferred into the network's accounts, while Shailesh Dagdu Chavan allegedly supplied cash against those transfers.
What Triggered the Arrests
Premises of all three accused were searched on 21 August 2025. According to the ED, the laundering activity continued even after earlier searches conducted on 17 July, persisting until days before the 23 August arrests — a pattern the agency said necessitated custodial interrogation. The investigation is ongoing, with authorities expected to trace further layers of the financial network.
Point of View
850 crore through the banking system. The involvement of a chartered accountant who managed 21 shell companies and 43 dummy directors as one consolidated exercise points to a deliberate exploitation of regulatory blind spots. The ED's own timeline is telling: laundering continued even after the July 17 searches, suggesting the network had enough redundancy to absorb early enforcement pressure. If RBI-licensed money changers were used to convert proceeds into foreign currency, the question of regulatory oversight of Full Fledged Money Changer licence holders demands a harder look than it has received.
NationPress
29 Aug 2026
Frequently Asked Questions
What is the Goa digital arrest fraud case?
It is a cyber fraud case in which a Goa resident was kept on a video call, falsely told she was under criminal investigation, and coerced into transferring ₹2.60 crore into accounts described as 'Secret Supervision Accounts'. The ED registered a money laundering case based on FIR No. 17/2025 filed by the Cyber Crime Police Station, North Goa, on 9 June 2025.
Who has been arrested by the ED in this case?
Five persons have been arrested in total. Fahim Moin Hussain Sayed and Naim Mueen Sayyed were arrested on 23 August 2025, followed by chartered accountant Bhushan Suryakant Moye, Vilas Narayan Pawar, and Shailesh Dagdu Chavan on 27 August 2025. All three latest arrestees are in ED custody until 1 September 2025.
How large is the money laundering network linked to this case?
According to the ED, the network is linked to 330 victim complaints and 163 FIRs across more than 20 states and Union Territories, with reported losses of ₹417.49 crore. Banking transactions through the network's accounts exceeded ₹27,850 crore.
What role did the chartered accountant play in the fraud?
Bhushan Suryakant Moye allegedly incorporated 21 companies within the network using identity documents supplied to him, and managed those companies along with 43 dummy directors as a single group — filing their income-tax returns collectively to obscure their individual roles.
How were the fraud proceeds laundered?
According to the ED, the money was received as banking credits, converted into cash, and then routed into foreign currency through companies holding Full Fledged Money Changer licences issued by the RBI. Funds were fragmented across more than 400 beneficiary accounts to project the proceeds as legitimate.
