Mumbai, August 20, 2026: The Mumbai Crime Branch has uncovered a major cyber fraud racket while investigating a case registered at Pydhonie Police Station.
During the probe, Crime Branch Unit-2 conducted
a raid on a luxury villa in Goa and initially arrested 12 suspects. The number of arrests has now increased to 18, and all the accused have been remanded in judicial custody.
Dubai-Based Kingpin Suspected
Further investigation has revealed that Ranveer, a Gujarat-based accused, is allegedly the mastermind behind the racket. Police suspect that he has been operating a cyber fraud call centre from Dubai. A Lookout Circular (LOC) has been issued against him, and efforts are underway to trace and apprehend him.
The Crime Branch raided a luxurious villa measuring around 2,000 sq ft near Calangute Beach in Goa, where the accused were allegedly operating the cyber fraud network.
Mule Accounts Under Scanner
During the investigation, police found that more than 150 mule bank accounts were allegedly used by the racket. Investigators suspect that transactions worth around Rs 500 crore were carried out through these accounts over the past six months. The network is also suspected to be linked to at least 83 cyber fraud cases reported across the country, according to the investigation.
Police have found that the fraud proceeds were allegedly converted into USDT (Tether cryptocurrency), making it difficult for investigators to trace the final destination of the money.
Meanwhile, the Crime Branch has initiated action to freeze bank accounts involving suspected transactions worth between Rs 50 crore and Rs 100 crore.
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Probe Focuses On Dubai Links
The police are now focusing on tracing Ranveer, who is suspected to be operating the racket from Dubai, as well as identifying other members involved in the international cyber fraud network.
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