Did ED Conduct Raids Over Rs 100-Crore Cyber Fraud in Gujarat?
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Synopsis
The Enforcement Directorate has launched a significant crackdown on a cyber fraud case exceeding Rs 100 crore, with raids spanning multiple locations. This operation reveals the extensive efforts to combat digital financial crimes in India. Stay updated on the unfolding investigation and its implications for victims and the broader financial landscape.
Key Takeaways
- Coordinated raids by the ED across multiple locations.
- Fraud exceeds Rs 100 crore, indicating significant scale.
- Accused used forged documents to operate bank accounts.
- Funds laundered through hawala and cryptocurrency.
- More arrests and asset seizures expected.
Ahmedabad, June 25 (NationPress) The Enforcement Directorate (ED) initiated a series of coordinated raids across Gujarat and Maharashtra on Wednesday, targeting a significant cyber fraud case exceeding Rs 100 crore, according to officials.
Early morning operations took place at various offices and residences in Ahmedabad, Surat, and Mumbai, conducted under the Prevention of Money Laundering Act (PMLA).
Following a complaint from the Gujarat Police, the Ahmedabad Zonal Office of the ED commenced searches at properties associated with several individuals believed to be behind these large-scale digital financial scams.
Those accused in the case include Maqbool Doctor, Kashif Doctor, Basam Doctor, Mahesh Mafatlal Desai, and Maz Abdul Rahim Nada, among others.
Authorities allege that the group deceived unsuspecting victims through tactics like fraudulent enforcement notices, USDT (Tether) crypto trading scams, and bogus digital arrest threats.
Reportedly, the accused opened bank accounts using forged KYC documents to receive funds from victims. These proceeds were subsequently routed through hawala and angadia channels, eventually converted into cryptocurrency and transferred abroad, officials indicated.
Investigators estimate that the illegally obtained funds have surpassed Rs 100 crore, marking it as one of the most serious cyber-related laundering cases recently uncovered in the area.
While the ED's actions focused on Ahmedabad and Surat, simultaneous legal measures were taken in Mumbai, highlighting the widespread nature of the syndicate involved.
During the raids, officials seized digital records and financial documents, which are now undergoing forensic analysis.
Further arrests and asset seizures are anticipated as the investigation progresses.
The ED is also exploring potential links to international crypto exchanges and plans to collaborate with Central cybercrime units and global financial intelligence agencies in the near future.
Earlier this year, the ED executed several high-profile raids in Gujarat under the PMLA, addressing diverse sectors and significant financial discrepancies.
Between January 10 and 11, the Ahmedabad Zonal Office conducted searches in Ahmedabad and Gandhinagar as part of a bank fraud investigation concerning Electrotherm India Limited and its affiliates.
During those investigations, two luxury Mercedes vehicles were confiscated, 37 bank accounts were frozen with a total balance of nearly Rs 33.67 crore, and proceeds of crime amounting to Rs 81.97 crore were traced.
On May 6, the ED teams targeted various sites throughout Gujarat regarding the misuse of Waqf properties, examining financial discrepancies related to religious endowments.
Most recently, on June 12, a coordinated effort spanned both Gujarat and Rajasthan, with the ED raiding 24 locations concerning a Rs 2,700-crore real estate fraud linked to the Nexa Evergreen project associated with the Dholera Smart City initiative.
During that operation, nearly Rs 2 crore in cash was seized and 10 bank accounts were frozen.
Point of View
This crackdown by the Enforcement Directorate underscores the growing threat of cyber fraud in India. The swift action taken highlights the government's commitment to safeguarding citizens and financial institutions. The case serves as a stark reminder of the need for vigilance in the digital age, where scams are becoming increasingly sophisticated.
NationPress
25/06/2025
Frequently Asked Questions
What is the cyber fraud case about?
The case involves a group accused of orchestrating large-scale scams exceeding Rs 100 crore using tactics like fake enforcement notices and cryptocurrency trading fraud.
Who are the main individuals involved?
Key accused individuals include Maqbool Doctor, Kashif Doctor, Basam Doctor, Mahesh Mafatlal Desai, and Maz Abdul Rahim Nada.
How did the fraudsters operate?
The accused allegedly opened bank accounts using forged KYC documents to collect money from victims, which was then laundered through hawala and converted into cryptocurrency.
What actions have been taken by the ED?
The ED has conducted multiple raids across Gujarat and Maharashtra, seized digital records, and is expected to make more arrests as the investigation progresses.
What is the significance of this case?
This case highlights the serious threat posed by cyber fraud and the need for enhanced vigilance and regulatory measures in the digital financial landscape.
