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The Cyber Crime Wing of West Bengal Police has busted a ₹317-crore on-line fraud involving 148 shell corporations and raided the house and places of work of businessman Pawan Ruia for his alleged hyperlinks to the racket, an officer stated on Tuesday (November 11, 2025).
Police groups searched Ruia’s residence and places of work, in addition to these of a number of of his associates, final Thursday (November 6, 2025) after their names figured in an FIR registered in reference to a nationwide cyber fraud casethe officer stated.
“A meticulous investigation unveiled the direct involvement of a cyber fraud. Over 1,379 complainants throughout West Bengal and different components of India have been cheated of roughly ₹317 crore,” police stated in a press release on Monday (November 10, 2025).
“These funds have been routed by quite a few financial institution accounts of 148 shell corporations, lots of which shared the identical registered tackle, and have been subsequently siphoned off to varied mule accounts,” it added.
Speaking extra about their investigation, the officer stated, “Preliminary findings recommend that round ₹170 crore of the diverted funds was transformed into cryptocurrency in an try to forestall legislation enforcement from tracing or freezing the property.”.
A suo motu FIR was registered at Barrackpore Cyber Crime Police Station on November 5, the officer added. “The FIR names Ruia, members of his household, and shut associates, noting that 11 administrators linked to Ruia-controlled entities additionally maintain positions on the boards of 186 different corporations throughout India,” the officer stated.
Following the grievance, police groups performed coordinated searches at a number of places, together with ‘Ruia Centre’ on 46 Syed Amir Ali Avenue in Park Circus, Dunlop Industrial Merchandise Pvt. Ltd. on 129 Park Avenue, Berger Home beneath the Park Avenue police station, and Ruia’s residence in Ballygunge, he added.
Revealed – November 11, 2025 12:41 pm IST