ED raids multiple locations in Gujarat in over Rs 100-crore cyber fraud case

Ahmedabad, June 25 (IANS) The Enforcement Directorate (ED), on Wednesday, launched a coordinated crackdown across Gujarat and Maharashtra in connection with a massive cyber fraud case involving more than Rs 100 crore, officials said.

Raids were carried out early in the morning at several offices and residences in Ahmedabad, Surat, and Mumbai, under the Prevention of Money Laundering Act (PMLA).

Acting on a complaint filed by the Gujarat Police, the Ahmedabad Zonal Office of the ED initiated searches at properties linked to multiple individuals suspected of orchestrating large-scale digital financial scams.

The key accused named in the case include Maqbool Doctor, Kashif Doctor, Basam Doctor, Mahesh Mafatlal Desai, and Maz Abdul Rahim Nada, among others.

Authorities allege the group duped unsuspecting victims by employing tactics such as fake enforcement notices, USDT (Tether) crypto trading scams, and false digital arrest threats.

The accused reportedly opened bank accounts using forged KYC documents and used these accounts to receive money from victims. These funds were then funneled through hawala and angadia channels, ultimately being converted into cryptocurrency and transferred abroad, officials said.

According to investigators, the illegally acquired funds exceeded Rs 100 crore, marking it as one of the more serious cyber-enabled laundering cases recently uncovered in the region.

While the ED’s operations were concentrated in Ahmedabad and Surat, parallel legal action was also taken in Mumbai, indicating the pan-state nature of the syndicate involved.

Officials have seized digital records and financial documents during the raids, which are now under forensic examination.

More arrests and asset seizures are likely as the investigation deepens.

The ED has not ruled out the involvement of international crypto exchanges and is expected to coordinate with Central cybercrime units and global financial intelligence bodies in the days ahead.

Earlier this year, the ED conducted several high-profile raids in Gujarat under the PMLA, targeting different sectors and sizeable financial irregularities.

On January 10 to 11, the Ahmedabad Zonal Office carried out searches at multiple locations in Ahmedabad and Gandhinagar as part of a bank fraud probe into Electrotherm India Limited and its associates.

The ED seized two luxury Mercedes cars, froze 37 bank accounts with balances totaling nearly Rs 33.67 crore, and traced proceeds of crime amounting to Rs 81.97 crore.

Later on May 6, the ED teams raided various sites across Gujarat in connection with misuse of Waqf properties, scrutinising financial irregularities linked to religious endowments.

Recently, on June 12, a coordinated operation spanned both Gujarat and Rajasthan, with the ED raiding 24 locations in connection with a Rs 2,700-crore real estate fraud involving the “Nexa Evergreen” project tied to the Dholera Smart City scheme.

During that operation, nearly Rs 2 crore in cash was seized and 10 bank accounts were frozen.

–IANS

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