PANAJI
A Mumbai-based man, arrested by theEnforcement Directorate in a Rs 2.6 crore fraud, allegedly never practised lawand acted as a key “lien-fixer” for a nationwide cyber fraud network, arrangingbribes for the release of bank accounts frozen over cybercrime complaints andhelping the syndicate regain access to proceeds of fraud.
The revelation was made by the ED Goa sleuths,further stating that accused Rashesh Bharatkumar Upadhyay alias Rashesh Shahbrokered cash bribes through angadiyas (informal cash couriers) to unfreezearound 100 bank accounts for various agents. In one instance, he admitted toarranging a payment of more than Rs 60 lakh, the agency said.
The ED arrested Upadhyay in the digital arrestfraud in which a Goa couple lost Rs 2.6 crore. He is the seventh accusedarrested in the case and is currently in ED custody.
“Upadhyay fixed the bribe amounts, collectionpoints and onward payments whenever law enforcement agencies froze bankaccounts linked to the cyber fraud network. His role helped restore access tofraud proceeds and kept the network’s money-laundering operations runningacross the country,” the ED alleged.
The sleuths further added that Upadhyaycontinued his dealings even after the agency conducted searches, including inconnection with accounts frozen by the central agency. He allegedly deletedchats with co-accused and switched off all his known mobile numbers beforeattempting to flee.
The agency intercepted him at the boardinggate of Chhatrapati Shivaji Maharaj International Airport in Mumbai while hewas attempting to leave on an early-morning connecting flight to Delhi withouta return booking. The ED credited the timely assistance of Mumbai Customs andthe Central Industrial Security Force (CISF) for the interception.
The investigation began after Goa Policeregistered an FIR over the digital arrest fraud. The ED said fraudsters posingas officials of the Telecom Regulatory Authority of India and the CentralBureau of Investigation kept a Goa resident and her husband under continuousvideo surveillance, showed them a forged Supreme Court order and coerced thewoman into transferring around Rs 2.6 crore into accounts falsely described as“Secret Supervision Accounts”.
The ED traced the money through more than 400mule accounts to a network of commodity, travel and foreign-exchange companiesallegedly controlled by Fahim Moin Hussain Sayed and Naim Mueen Sayyed throughdummy directors. Both controllers and other accused were arrested earlier inthe investigation.
“The network allegedly conducted bankingtransactions worth nearly Rs 28,000 crore and deposited around Rs 2,900 crorein cash. Its bank accounts have surfaced in more than 300 victim complaints andover 160 FIRs across 20 States and Union Territories, involving reported lossesexceeding Rs 400 crore,” the ED said.
The agency also alleged that Upadhyay used hisprofessional standing as an advocate to provide cover for brokering bribes andsecuring the release of fraud proceeds. Although enrolled as an advocate, hehad never appeared in court or filed a vakalatnama for the co-accused or theircompanies.
