2500 cr fraud from rbl bank surat

A routine vehicle check in Surat has uncovered Gujarat’s largest cyber fraud racket, involving an international network and over 160 fake bank accounts. The Udhana Police revealed that more than ₹2,050 crore was laundered through local operatives and foreign handlers, including a suspect in Cuba known as "Rich Pay."

How the Scam Operated Cybercriminals executed fraud schemes across India, transferring money into 164 fake current bank accounts opened in the names of textile firms through an office called "Vasundhara Firm." The mastermind, Kirat Vinod Jadavani, communicated account details to "Rich Pay" via Telegram, receiving commission payments in cryptocurrency (USDT).

RBL Bank Under Scrutiny

of the fraudulent accounts, 119 were opened with RBL Bank. Police are questioning bank managers in Surat and senior officials in Mumbai for potential lapses. Other banks involved include Yes Bank, SBI, and Axis Bank.

Discovery and Arrests On May 24, police stopped a man named Rohan during a vehicle check, leading to the arrest of Kirat and his associate Mit Khokhar. Their office contained laptops, cash, and a money-counting machine. So far, three individuals have been arrested, including Kirat, who turned to fraud after failing in his Flipkart warehouse venture.

International Connections and Extent of the Scam The network operated with commands from Cuba, Malaysia, Thailand, and Singapore, employing various cybercrime techniques.

A total of 265 complaints have been filed in Gujarat, with ₹1.04 crore frozen by police. Kirat invested in gold, luxury cars, and bank accounts, with 2 lakh USDT in crypto earnings traced.

Ongoing Investigation With over 164 accounts frozen and substantial evidence recovered, Udhana Police continue their investigation, expecting more arrests as the international racket's scope unfolds. This case highlights the urgent need for stricter scrutiny in bank account openings and international financial transfers.