Kolkata industrialist Pawan Ruia, family booked for money laundering in Rs 300 cr cyber fraud case
Kolkata: Police in West Bengal have unearthed a large-scale cyber fraud and money-laundering operation that reportedly deceived over a thousand people across the country through fake investment portals, “digital arrest” scams, and other online financial traps. According to police sources cited by News18, the racket is believed to have benefited Kolkata-based industrialist Pawan Kumar Ruia, his family, and several of their linked firms.
Officials told News18 that the network, which had been operational since 2024, functioned as a well-organised syndicate with digital and financial connections spread across multiple states. The state’s cybercrime unit has registered a case against Pawan Ruia, his family members, and several associated companies under charges of money laundering in what is estimated to be a Rs 300-crore scam. As per the FIR accessed by News18, investigators found that certain members of the Ruia family were direct recipients of illicit funds moved through shell companies and cryptocurrency wallets. The suo motu case was initiated after the cybercrime wing detected suspicious fund transfers during an earlier investigation at the Bidhannagar Cyber Crime Police Station earlier this year. This is not the first time Ruia has faced legal trouble. Back in 2016, the West Bengal Police had arrested him from his Sunder Nagar residence in New Delhi following a complaint by the Indian Railways over the alleged disappearance of Rs 50 crore worth of goods and machinery from the Dum Dum unit of Jessop & Company Ltd. The latest FIR describes a complex trail of money movement through shell firms and multiple bank accounts. One of the accounts flagged in an earlier case was found to have transferred money to another belonging to Hughli Machineries Pvt Ltd. Investigators later discovered that the company had 11 current accounts linked to a single PAN number, which were allegedly used for layering funds. According to the National Cyber Crime Reporting Portal (NCRP), 544 cyber fraud complaints involving Rs 97 crore were traced to these accounts.
Further scrutiny revealed that several of the companies connected to this network shared common directors, addresses, and registration details. Investigators found that 147 of them were registered under the same Registrar of Companies in Kolkata, while 73 listed the same Ezra Street address — which, upon verification, was found to be non-existent. The NCRP database also shows that 1,379 complaints have been filed against bank accounts associated with this network, with a total fraud amount exceeding Rs 300 crore. The FIR mentions that Pawan Ruia, his son Raghav Ruia, and another associate played key roles in diverting money through multiple accounts and crypto transactions. Police sources confirmed to News18 that four members of the Ruia family have been named as primary beneficiaries of the alleged scam. Investigators have already traced direct transfers from at least 23 victims into accounts linked to the network. Raids have been conducted at two suspected locations, and authorities are now working to freeze related accounts, track the flow of money, and expand the probe — with more searches and arrests expected in the coming days.
