Team Goemkarponn
CANDOLIM: Two holiday villas in Candolim are at the centre of a major cybercrime investigation, with Mumbai Police alleging that separate groups operating from the properties channelled close to Rs 900 crore through thousands of bank accounts. A total of 22 people were arrested during raids conducted by the Mumbai Crime Branch in August and September.
Investigators suspect the operations were linked to a network controlled by an Indian national based in Dubai. The accused allegedly used a specialised application to move money obtained through cyber fraud across multiple accounts, making it difficult for authorities to track the transactions and block the funds.
In the first case, police arrested 12 people at a Candolim villa, including 11 from Gujarat and one from Mumbai. The search yielded 15 laptops, 128 ATM cards, 85 mobile phones, 76 SIM cards, 22 cheque books, 77 passbooks and six routers, along with other material.
According to investigators, accounts handled by this group were connected to 186 cybercrime complaints across India. Police said Rs 120 crore had been frozen across 7,500 bank accounts, while the amount suspected to have been routed through this operation stood at around Rs 500 crore.
The trail reportedly began in Mumbai, where police raided an office at Parsvnath Chambers in Masjid Bunder on July 3. Investigators allege that people were recruited there to open current accounts and arrange SIM cards associated with those accounts. Although the accounts were created in Mumbai, they were later operated from Goa.
Police suspect that account-related documents, bank welcome kits and SIM cards were passed along a chain of individuals before being used in fraudulent transactions. The operation at the Candolim villa allegedly ran in three shifts of eight hours each, allowing transactions to continue around the clock.
Investigators identified an application called Banker Panel as a key tool allegedly used by the group. Police believe it enabled operators to distribute money from a victim’s account across numerous accounts with a single command, complicating efforts to trace the funds. Those arrested at this location allegedly received Rs 35,000 per month and an additional commission of three per cent on the amount transferred.
A second raid at another Candolim villa led to the arrest of 10 people. Police estimate that this group moved approximately Rs 400 crore through a comparable arrangement involving multiple bank accounts. The accused were allegedly paid a monthly salary of Rs 25,000, apart from commissions, with some reportedly earning between Rs 1 lakh and Rs 1.5 lakh a month.
The Mumbai Crime Branch suspects that both operations were overseen by a Dubai-based Indian national who allegedly used the name Ranveer Kapoor. Investigators are reportedly working with authorities in Dubai to secure his return to India.
Police say the suspected network involved several layers, from individuals supplying bank accounts to agents arranging them, intermediaries activating them and operators carrying out transfers. Investigators are also examining allegations that gaming platforms were used to pay commissions through transactions designed to appear legitimate. The platforms named in the probe include XXX247, 900 Panel and Rudra.
The investigation has also taken police to Jaipur, where they traced a person identified as Bua Smith, an Ahmedabad native who allegedly used the name Ashwathama and coordinated activities through WhatsApp groups.
Police believe the Goa cases may be part of a wider operation extending beyond the state. The owners of the two villas reportedly told investigators that they had no knowledge of the alleged illegal activities before being contacted by police.
Goa Police assisted the Mumbai Crime Branch during the raids. Further investigation is underway to establish the network’s full reach and the roles of those involved.
Clarify The Alleged ₹900-Crore BreakdownTighten The Investigation Timeline
