Science & Tech · Cybersecurity · 16 hrs ago
Advocate arrested in alleged Rs 28,000 crore cyber fraud network
The Enforcement Directorate arrested advocate Rashesh Upadhyay at Mumbai airport as part of a money-laundering investigation.
The case involves an alleged nationwide cyber fraud and digital arrest network that handled nearly Rs 28,000 crore in banking transactions.
The investigation began after a Goa woman allegedly lost Rs 2.60 crore to fraudsters who pretended to place her under arrest and pressured her to transfer money in 2025.
The agency alleges Upadhyay helped get the network's frozen bank accounts released by arranging bribes through cash intermediaries.
Accounts linked to the network appear in more than 300 victim complaints and over 160 police cases across 20 states and Union Territories, with reported losses exceeding Rs 400 crore.
Upadhyay is the seventh person arrested and has been remanded to ED custody until October 29.
Investigators are trying to identify alleged bribe recipients and intermediaries and trace the suspected criminal proceeds.
The Enforcement Directorate arrested advocate Rashesh Upadhyay in Mumbai in a money-laundering investigation into an alleged nationwide cyber fraud network.
The network allegedly handled banking transactions worth nearly Rs 28,000 crore and made cash deposits of about Rs 2,900 crore.
The arrest brings the number of people held in the case to seven.
The ED alleges Upadhyay helped get bank accounts linked to the network unfrozen by arranging bribes through cash-handling intermediaries.
The investigation began after a woman in Goa allegedly lost Rs 2.60 crore in a digital-arrest scam.
- Who
- The Enforcement Directorate arrested advocate Rashesh Upadhyay, also known as Rashesh Shah.
- What
- He was arrested in a money-laundering probe into an alleged cyber fraud and digital-arrest network.
- When
- Saturday, October 24, 2026, according to India Today.
- Where
- He was intercepted at Mumbai’s Chhatrapati Shivaji Maharaj International Airport and taken to Panaji.
- Why
- The ED alleges he helped get bank accounts linked to the network unfrozen by bribing officials.
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A Goa woman was allegedly placed under digital arrest and made to transfer Rs 2.60 crore.
Goa Police registered an FIR that led to the investigation.
The ED intercepted and arrested Upadhyay at Mumbai airport.
Upadhyay was due to remain in ED custody until this date.
- Arrested person
- Rashesh Upadhyay, also known as Rashesh Shah
- Alleged banking transactions
- Nearly Rs 28,000 crore
- Alleged cash deposits
- About Rs 2,900 crore
- Linked complaints and FIRs
- More than 300 complaints and over 160 FIRs across 20 states and Union Territories
- Total arrests
- Seven
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