Investigations into a Rs 58 crore digital scam have revealed that a significant portion — Rs 15.25 crore — was funneled into a bank account held under Jai Bhavani Mechanical Works, owned by Jayeshbhai Dayabhai Bapa (31) of Bhavnagar, Gujarat. Maharashtra Cyber Police stated that this account served as a major conduit for laundering proceeds from the cyber fraud.
The Maharashtra Nodal Cyber Police arrested Bapa along with four others: Sachin Govind Pekhale (37) of Nashik, Sheikh Fahim Sheikh Pasha (26) of Chhatrapati Sambhajinagar, and two Gujarat-based associates, Vishal Ramesh and Bipingiri Rameshgiri Goswami (42). Authorities said large sums were routed through their accounts and siphoned off to various destinations via a network of mule accounts and shell entities.
The accused were produced in a local court, which remanded them to police custody. Defence counsels Adv. Avdesh Pandey and Adv. Rajan Tripathi argued that the arrests were made without prior notice and requested judicial custody for their clients.
Officials confirmed that the probe uncovered an organized money-laundering operation spanning multiple states and countries. “The funds moved through 27 mule bank accounts across Maharashtra, Gujarat, and Rajasthan before being transferred abroad,” an officer said, noting connections in China, Dubai, and Cambodia, indicating a transnational cybercrime syndicate.
With these arrests, the total number of persons held in the case has reached 26. Investigators are focusing on Bapa and his associates’ roles in layering and diverting funds while scrutinizing linked accounts and shell companies that may have facilitated the transactions.
The case began when a pharmaceutical businessman and his banker wife were duped of Rs58.13 crore by cyber fraudsters posing as officials from central agencies. The couple were shown fake video calls and clips depicting police stations, CBI and ED offices, and mock courtrooms with actors posing as judges, officers, and lawyers. They were coerced into transferring their savings under the pretense of an “investigation,” with assurances the funds would be returned once cleared.
