Gujarat CID crime busted an online betting ring carried out on a mobile application, through which the perpetrators syphoned off a total of ₹1,195 cr, and deposited them in several rental bank accounts.
The accused created these accounts by promising heavy returns to the account holders, who were unaware of their illicit activities. A total of seven accused have been nabbed in this betting scam that went on for two and a half years, and a thorough probe has been launched.
Gandhinagar CID crime received a tip-off regarding money laundering through a cricket and online games betting racket. Following this, an investigation was carried out by RS Patel, deputy superintendent of police (DSP), CID Crime, Rajkot. initial probing revealed three accounts registered in the name of Hemant Trading, Shivam Trading, and a person named Khanaji Vaghela, which were suspected of laundering the money made through the betting app.
This revelation uncovered a link to 35 fraudulent accounts, rented by the perpetrators to deposit their illicit earnings.
The Ahmedabad zone CID crime found transactions totalling up to ₹1,195 cr from June 2021 to Jan 2024.
The perpetrators laundered the money by luring the account holders in exchange of hefty returns through loans or as an extra income. In turn, the accused created documents, bought SIM cards, and registered companies in their names. They also opened fake email IDs as well as bank accounts in the name of the bogus companies, presenting fake signatures of the account holders.
An online registration process was also carried out to obtain a licence from the ‘Director of Foreign Trade (DGFT)’ for these companies allowing exporting and importing in India. CID Crime was led to these accounts by probing the initial three companies, which are registered in the names of various persons.
The firm ‘Hemant Trading’ was established by the field manager of Hemant Shikharwal, who provided his forged documents. In return, Hemant was paid ₹10,000 – ₹12,000 every month. Shivam Trading was registered in the name of Shivam Raval, who, after seeing an advertisement in the newspaper, handed over his documents to a person named Vicky from Ahmedabad, who opened the fraudulent account.
The account of Khanaji Vaghela was opened by a person named Bhavesh Joshi from Thara, who promised a loan of ₹3,000 to the account holder. Seven people have been held in this case, which includes a history-sheeter, Amit Majethia (Ahmedabad), along with the operatives Omshankar Tiwari (New Delhi), Bhavesh Sachania (Junagadh), Ashwin Sachania (Junagadh), Dhananjay Patel (Balasinor), Vicky (Ahmedabad), and Bhavesh Joshi (Banaskantha).
A case was registered against them in CID Crime, Ahmedabad Zone, for cheating and duping the legal and administrative authorities by forging documents to make illegal transactions for financial benefits.
The Prevention of Crime Branch (PCB) registered a case in Ahmedabad’s Madhavpur area against Bodakdev resident Majethia. As per sources at the PCB, Majethia was previously accused of being a mastermind in a ₹12,000 cr fraud case. A bookie named ‘Mahadev’ was also a co-accused in this case.
As per the investigation by Gujarat police, Majethia was operating from Dubai and later fled to another country, fearing deportation.