Mumbai: ED Arrests Advocate From Airport In ₹28,000 Crore Cyber Fraud Investigation

Mumbai: The Enforcement Directorate (ED) has apprehended an advocate in connection with a sprawling cyber fraud scheme allegedly amounting to Rs 28,000 crore. Rashesh Upadhyay, formerly known as Rashesh Shah, was taken into custody at Mumbai's Chhatrapati Shivaji Maharaj International Airport on Saturday while boarding a flight to Delhi.

Assisted by Customs officials and the Central Industrial Security Force (CISF), Upadhyay was brought before a special Prevention of Money Laundering Act (PMLA) court in Panaji and remanded to ED custody until October 29.

Described by the ED as a key figure in the alleged network, Upadhyay allegedly assisted in the unfreezing of frozen bank accounts through bribes paid to officials via intermediaries known as angadiyas. The investigation, which began after a first information report was filed by a woman in Goa on June 9, 2025, alleges that she was digitally arrested and coerced into transferring Rs 2.60 crore to multiple mule accounts.

These accounts, linked to commodity trading, travel, and forex firms, were allegedly operated through dummy directors and cashed out in foreign currency.

Investigations have expanded beyond the initial complaint, with bank transactions linked to the network totalling nearly Rs 28,000 crore and cash deposits amounting to Rs 2,900 crore. The ED has identified six other accused individuals, including Fahim Moin Hussain Sayed, Naim Mueen Sayyed, Bhushan Suryakant Moye, Vilas Narayan Pawar, Shailesh Dagdu Chavan, and Mukesh Kumar Pukhraj Jain alias Mukesh Bhai.

The latter is accused of arranging RTGS credits in exchange for cash and commission. The ED has remanded Upadhyay to ED custody until October 29, pending further developments in the case.