In a massive crackdown, Surat Police dismantled a Rs943 crore Dabba trading and online betting racket, arresting eight individuals linked to the illegal operation that ran under the front of a real estate firm named Sunrise Developers.
The alleged masterminds, Nandlal alias Nando Vitthalbhai Gevriya and his cousin Vishal alias Vicky Mansukhbhai Gevriya, orchestrated the scam using unregistered trading software and illegal betting platforms. Over 250 people are believed to be involved in this network.
The gang attracted investors by promising tax-free earnings, the use of black money, and “zero loss” schemes. Trading was conducted via unauthorized platforms like Castillo 9 and Stock Grow, circumventing SEBI regulations, while betting operations were run on banned websites such as Betfair.com, NexonExch.com, PavanExch, and English999.
During the raid, police found the accused attempting to destroy financial evidence using a paper-cutting machine. Items worth Rs17.30 lakh were seized, including Rs10.05 lakh in cash, 19 mobile phones, 4 laptops, and dozens of SIM cards and chequebooks.
The arrested individuals are:
Nandlal Vitthalbhai Gevriya (mastermind)
Vishal Mansukhbhai Gevriya (co-operator)
Bhavesh Jinabhai Kihla
Jaideep Kanjibhai Pipaliya
Navneet Chaturbhai Gevriya
Bhavin Arvindbhai Hirpara (software developer)
Bakul Maganbhai Tarsaria (software developer)
Sahil Mukeshbhai Suvagia (customer outreach)
Two suspects, Javed alias JD and Parimal Kapadia, remain absconding.
Deputy Commissioner of Police Rajdeep Singh Nakum confirmed the tracing of over Rs943 crore in suspicious financial transactions and ₹4.62 crore routed through bank accounts. The illegal operation reportedly caused substantial revenue loss to the government by evading STT and other taxes.
The investigation is ongoing, and further arrests are likely.
