ED Probe Reveals 400+ Accounts in Goa Digital Arrest Case

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ED Detains Three Additional Individuals in Cyber Fraud Case

The Enforcement Directorate has detained three additional individuals, including a chartered accountant, in a cyber fraud operation in Goa where a woman was reportedly forced to transfer ₹2.60 crore. The latest arrests increase the total number of suspects in the case to five. The investigation originated from a police complaint filed on June 9, 2025.

Victim Coerced into Transferring Funds via Video Call

According to the agency, the victim was subjected to a video call where she was misled into believing she was under criminal scrutiny. She was pressured to transfer the funds into accounts labeled as “Secret Supervision Accounts.” The ED stated that the money was subsequently funneled into an organized system designed to receive proceeds from cybercrime, convert the funds into physical currency, and then exchange the cash into foreign currency through entities licensed by the Reserve Bank of India as Full Fledged Money Changers.

Arrests Under Prevention of Money Laundering Act

The ED’s Panaji Zonal Office arrested Bhushan Suryakant Moye, Vilas Narayan Pawar, and Shailesh Dagdu Chavan on August 27 under Section 19 of the Prevention of Money Laundering Act. A special court in Goa extended their detention to September 1. Earlier arrests on August 23 included Fahim Moin Hussain Sayed and Naim Mueen Sayyed.

Alleged Network of 21 Companies and 43 Fictitious Directors

The agency alleged that Moye established 21 companies within the network using identity documents provided to him. It further claimed he managed these entities and their 43 fictitious directors as a unified group, including during tax return submissions. Pawar allegedly facilitated RTGS transactions to channel illicit funds into accounts linked to the network, while Chavan reportedly provided physical currency in exchange for these transfers.

Over 400 Beneficiary Accounts Linked to Cybercrime

The ED revealed that the alleged money-laundering infrastructure involved over 400 beneficiary accounts, with funds distributed through companies whose registered directors were individuals with limited financial capacity. The agency stated that these accounts were operated by third parties. Linked accounts are connected to 330 victim complaints and 163 police reports across more than 20 states and union territories.

Financial Impact of the Scheme

The total financial losses attributed to these cases amount to ₹417.49 crore, as per the ED. Additionally, banking transactions associated with the accounts exceeded ₹27,850 crore. Searches were conducted at the residences of the three newly arrested individuals on August 21. The ED noted that laundering activities persisted after searches on July 17 and continued until days prior to the August 23 arrests, prompting further detentions and custodial interrogations.

“The ED stated that the money was subsequently funneled into an organized system designed to receive proceeds from cybercrime, convert the funds into physical currency, and then exchange the cash into foreign currency through entities licensed by the Reserve Bank of India as Full Fledged Money Changers.”