The Special Operations Group (SOG) of Surat police has successfully uncovered a significant hawala racket estimated at around Rs100 crore, operating from the Athwalines area. The investigation has led to the booking of six individuals involved in this extensive operation. The accused received hawala funds from abroad through nine Surat-based angadia firms, converting the money into Tether (USDT) cryptocurrency before transferring it back to various countries using crypto wallets.
Three individuals—Maqbool Doctor (58), his son Kasif Doctor (32), and their employee Maa Nada (25)—have been arrested. Three additional suspects, including the main operator Mahesh Desai from Ahmedabad, who managed the operation from Dubai, are currently wanted. Investigators have uncovered links to countries such as China, Pakistan, Afghanistan, Bangladesh, Dubai, Saudi Arabia, Colombia, and South Africa, indicating that the scope of the racket could expand as the investigation progresses.
According to Surat police commissioner Anupam Singh Gahlaut, the raid on Safiya Manjil in the Athwalines area was conducted following a tip-off. The arrested trio was found operating the racket under the guise of an online travel booking office. Over the past two years, they collected cash from local angadia firms, deposited it into bank accounts, converted the funds into USDT cryptocurrency, and then transferred it to wallets in countries like China and Bangladesh.
During the raid, authorities seized a significant amount of evidence, including 31 chequebooks, 38 debit cards, 497 Airtel SIM cards, seven phones, a money counting machine, and Rs16.95 lakh in cash, along with foreign currencies from Thailand, Saudi Arabia, the UAE, and Cambodia. Given the potential links to terror funding, central agencies including the ED, IB, and NIA will be notified, as transactions over the past two years suggest a larger operation.
The accused reportedly charged Rs10,000 to convert Rs1 lakh into cryptocurrency, using a portion of the commission to pay bank account holders and cover other expenses while retaining the remainder as profit.
Furthermore, the suspects established a company in Dubai for visa processing and purchased property in both Dubai and Navsari. Police have identified 28 FIRs related to bank accounts associated with the suspects, including accounts in foreign banks like the Agricultural Bank of China.
Maqbool Doctor reportedly met Mahesh Desai in Dubai two years ago, where Desai proposed sharing profits from the hawala operation. Their dealings continued, with meetings held in Surat and Ahmedabad to advance the scheme. Desai is known to hold an Indian passport with a Dubai visa.