Three officials from leading private banks have been arrested for their alleged role in a massive Rs 2,500-crore cyber fraud in Gujarat’s Rajkot district, taking the total number of accused held in the case to 20, police said.
Investigators have so far traced 85 bank accounts linked to the racket, with 535 complaints registered on the cybercrime portal. The arrested individuals have been identified as Maulik Kamani, a personal manager at Yes Bank in Padadhari; Kalpesh Dangariya, a manager at Axis Bank in Jamnagar; and Anurag Baldha, a personal banker with HDFC Bank, Rajkot (Rural) Superintendent of Police Vijay Gurjar said. Dangariya and Baldha had previously worked with Yes Bank, he added.
According to the police, Kamani played a key role in helping earlier arrested accused open and manage suspicious accounts. He allegedly bypassed banking alerts triggered by high-value transactions by submitting additional documentation to keep such accounts operational.
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The police further said Kamani was involved in withdrawing cash that was later routed through hawala channels—an illegal money transfer system—supported by digital evidence recovered from his mobile phone.
Dangariya, meanwhile, is accused of facilitating the opening of fraudulent bank accounts using fake or misrepresented identities. He also helped prepare documentation, including Agricultural Produce Market Committee (APMC)-related papers, to prevent transactions from being flagged as suspicious.
Baldha allegedly opened new accounts after completing verification and certification processes as part of the wider racket. All three accused are currently in police custody, while others arrested earlier are lodged in jail under judicial remand.
The total value of transactions linked to the cyber fraud has now crossed Rs 2,500 crore, significantly higher than the earlier estimate of Rs 1,500 crore.
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