1 week ago
Mumbai Crime Branch Arrests 18 in ₹500 Crore Cyber Fraud
Mumbai police say they found a large group accused of helping run an online fraud network.
Eighteen people were arrested after police raided a villa in Goa.
The group allegedly used bank accounts belonging to other people to move money.
These accounts are often called mule accounts.
Police believe around ₹500 crore passed through more than 150 such accounts in six months.
The network may be connected to at least 83 cyber fraud cases in India.
Investigators say some of the money was changed into a cryptocurrency called USDT.
Police suspect a person named Ranveer helped lead the operation from Dubai.
The arrested suspects have been sent to judicial custody while the investigation continues.
Mumbai Crime Branch arrested 18 suspects after raiding a villa near Calangute Beach in Goa.
Police allege the network used more than 150 mule bank accounts for fraudulent transactions.
Investigators suspect about ₹500 crore moved through the accounts over the past six months.
The racket may be linked to at least 83 cyber fraud cases across India, according to police.
A Gujarat-based suspect named Ranveer is suspected of running the operation from Dubai, and a Lookout Circular has been issued against him.
- Who
- Mumbai Crime Branch arrested 18 suspects; police suspect a Gujarat-based accused named Ranveer is the alleged mastermind.
- What
- Authorities uncovered an alleged cyber fraud network involving mule bank accounts, cryptocurrency transactions and suspected proceeds of about ₹500 crore.
- Where
- The suspected operation was based at a luxury villa near Calangute Beach in Goa, while police suspect Ranveer operated from Dubai.
- When
- The suspected transactions allegedly occurred over the six months before the investigation; the arrests and raid were reported on August 20, 2026.
- Why
- Police are investigating a case registered at Pydhonie Police Station and are seeking to identify those involved in an alleged nationwide and international cyber fraud network.
Key facts
- Arrests
- 18 suspects were arrested and remanded in judicial custody.
- Raid location
- A roughly 2,000-square-foot luxury villa near Calangute Beach, Goa.
- Suspected transaction value
- Around ₹500 crore allegedly moved through the network over six months.
- Mule accounts
- More than 150 bank accounts were allegedly used.
- Potential case links
- The network is suspected of being connected to at least 83 cyber fraud cases across India.
- Cryptocurrency
- Police allege that fraud proceeds were converted into USDT, or Tether.
- Dubai suspect
- A Lookout Circular was issued against Ranveer, whom police suspect of operating from Dubai.
Sources
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