CID Crime Gandhinagar busts pan-India mule account racket, 16 held, ₹77 crore cyber fraud trail unearthed

In a major crackdown on organised cybercrime, the Cyber Centre of Excellence of the CID (Crime), Gandhinagar, has arrested 16 persons allegedly involved in operating a vast network of mule bank accounts used to route proceeds of cyber fraud and online gaming scams across India. Investigators said the racket is linked to at least 375 cybercrime cases with a fraud trail exceeding ₹77 crore.

According to officials, coordinated raids were conducted in Vadodara, Palanpur and Goa based on specific intelligence inputs. The accused had formed a pre-planned criminal conspiracy to open and procure savings and current accounts in their own names and in the names of others, and then hand over account credentials, cheque books, debit cards and SIM cards to associates. These “mule accounts” were subsequently used to receive and layer funds generated through various cyber frauds.

Vadodara module

Five accused were apprehended from Vadodara, including alleged kingpin Kiran Karshanbhai Joshi of Tharad, described as the administrator of the mule account network, and Siddharaj Ganpatbhai Shirwadia, who allegedly co-managed operations. Others arrested include Mahesh Laljibhai Joshi of Kankrej, Jigar Rajubhai Solanki of Palanpur, and Prakash Ramjibhai Joshi of Ogad.

Police said some of them floated shell entities such as 'Shivam Agency', 'Shivdhara Masala Business' and 'MR Water' to open multiple bank accounts, which were then handed over to the network. Seizures from this module include 13 mobile phones, 13 cheque books, two passbooks and four blank cheques.

Palanpur link

From Palanpur, Meet Ratilal Shrimali and Mehul Babubhai Solanki were arrested. Investigators alleged that Shrimali opened at least five bank accounts which were passed on to other accused, while Solanki facilitated the transfer of these accounts to the core network. Two mobile phones and digital records containing bank details, Aadhaar and PAN information were seized.

Goa operations hub

Subsequent technical analysis of bank transactions indicated that several accounts were being operated from Goa, prompting a follow-up raid. Nine more accused were arrested from Goa, including Jitubhai Bhurabhai Thakkar of Patan, who police said coordinated the larger network, and several others tasked with handling cyber fraud and gaming proceeds.

Seizures from this module include 15 laptops, 72 mobile phones, 126 SIM cards, 115 debit cards, multiple cheque books and passbooks, routers, pen drives and QR codes. A rental agreement was also recovered.

Forensic examination of seized devices revealed extensive data, including bank statements, login credentials, transaction histories and PDF copies of cybercrime complaints. Investigators also found WhatsApp and Telegram group communications with contacts in Dubai and other countries, indicating possible international links and exchange of bank account details.

Modus operandi and scale

Police said the syndicate used a range of fraud techniques, including “digital arrest” scams, investment frauds, UPI-related frauds, deposit and loan frauds, part-time job scams and gaming-related frauds. The network allegedly maintained details of over 260 bank accounts, enabling the movement of illicit funds across states.

Data accessed from the national cybercrime reporting portal (1930 helpline) indicates that at least 375 complaints across India are linked to these accounts, with the cumulative fraud amount pegged at ₹77.72 crore.

The investigation is ongoing to identify additional beneficiaries and international handlers behind the racket, officials said.