ED arrests two in ₹30,000 crore cyber fraud probe

Investigators found the money was withdrawn and converted into foreign currency through RBI-licensed money changers. The sources said the network is suspected of handling bank transactions worth ₹27,000 crore and cash dealings of ₹3,000 crore. The fraud reportedly covers about 300 victim complaints and 150-160 FIRs filed across 20 states and Union Territories. The total amount allegedly cheated from victims is estimated at around ₹4,000 crore, the sources said.

The money trail revealed shell companies with drivers and employees living in single-room accommodations listed as directors, a pattern common in such cases, according to the sources.

The agency produced the two before a special PMLA court in Mumbai on Sunday, which granted transit remand to take them to Panaji, Goa, where the case is registered. The ED is expected to produce them before a special court in Panaji on Monday seeking custodial interrogation.