Surat has emerged as the epicentre of one of the largest international cybercrime rackets unearthed in recent memory, with investigators uncovering a staggering Rs 1,455 crore laundered through 90 bank accounts in just six months. Shockingly, these accounts were opened using identity documents of financially distressed individuals — exploited for a price. Police warn that the total amount siphoned off could balloon to Rs 2,000 crore, as details of 75 more suspicious accounts are still under scrutiny.
The trail of deceit surfaced on May 22 when Udhna police intercepted a man in possession of suspicious stamps and bank kits. This routine detention cracked open a massive racket, leading officers to a covert office in Mota Varachha, operated by Kirat Jadwani, Meet Khokhar, and Mayur Italiya. All three were arrested, and authorities seized a trove of incriminating documents, cash, forged stamps, and banking kits during the raid.
What followed was an avalanche of revelations. The accused were reportedly acting as ground agents for an international cybercrime syndicate with operatives stationed in Cuba, Malaysia, and Thailand. Investigators revealed that these operatives used Indian accounts to park funds looted through online scams — including digital arrest rackets, betting operations, and other sophisticated cyber frauds.
The syndicate strategically targeted private sector banks such as RBL, Axis, Yes Bank, and Kotak Mahindra — particularly their branches in Vesu, Sahara Darwaja, and Varachha — to open the fraudulent accounts. Many of these accounts, shockingly, were registered under fictitious companies or with stolen identities bought for up to Rs 8 lakh.
Kirat Jadwani, considered a kingpin in the operation, had reportedly turned to cybercrime in July 2024 after suffering severe losses in the warehouse business. Police revealed that he actively sought out individuals in deep financial distress, offering them hefty sums in exchange for their KYC documents. Jadwani allegedly earned around Rs 10 crore in commissions by leasing these fraudulent accounts to cybercriminals.
Deputy Commissioner of Police (Zone-2), Bhagirath Gadhvi, confirmed that Rs 1,455 crore worth of transactions had taken place through just 90 RBL bank accounts over six months. He explained that several accounts showed activity ranging from Rs 10 crore to Rs 50 crore. Gadhvi added that data from the national cybercrime portal validated that these accounts had been used to route massive volumes of money linked to digital scams.
Further deepening the gravity of the scam, 2,500 cybercrime complaints from across India were traced to 165 bank accounts associated with the accused. Of these, 265 originated from Gujarat, including 36 from victims in Surat alone.
Udhna Police Inspector SN Desai remarked that the scale and spread of the fraud were unlike anything seen before. He stated that from the 90 bank accounts examined so far, Rs 1.10 crore had been seized by various agencies and banks. Additionally, Rs 1.40 crore was frozen from Jadwani’s personal accounts. Desai described the racket as unprecedented in scale and complexity — a reminder of how cybercrime continues to outpace even the most watchful eyes of law enforcement.
