KOLKATA: The cyber crime wing of the West Bengal police on Tuesday arrested industrialist Pawan Ruia from Eco Park in New Town.
The prosecution had argued that the extent of the fraud could be around Rs. 700 crore-Rs 800 crore.
In November last year, the cybercrime wing had raided the residence and offices of Ruia in connection with a complaint from April 2024. The cybercrime wing officials investigating the case had traced 1,379 complainants in Bengal and other parts of the country who were allegedly swindled.
A 100 of these complaints were from Bengal.
An online fraud involving around Rs 315 crore was busted in Kolkata after police raided home and offices of Ruia for his alleged link in the racket.
Sources in the cybercrime department of the state said that the fraud involved 148 shell companies.
Sources requesting anonymity said that police were prompted to conduct raids in November at residences and offices of Ruia and his several other associates after their names were allegedly figured in an FIR lodged in connection with the cyber fraud case across the country.
“A meticulous investigation unveiled the direct involvement of a cyber fraud. Over 1,379 complainants across West Bengal and other parts of India were cheated of approximately Rs 317 crore," police sources said. Police had initiated a suo motu case based on their inquiry into cybercrime cases.
West Bengal had initiated a move to take over the non-functional industrial units Jessop and Dunlop of Ruia several years ago.
More than 1370 complaints have been registered against the accounts of shell companies, according to National Crime Reporting Portal.
Investigation revealed around Rs. 170 crore was allegedly converted into cryptocurrency to avoid detection.
The FIR filed by the cybercrime wing had mentioned 11 directors in companies linked to Ruia were also part of the boards of 186 companies.
On December 22, a lower court had issued an arrest warrant against Ruia and some other people, including family members. Justice Uday Kumar of the Calcutta High Court granted anticipatory bail to Ruia, his son Raghav and daughter, Pallavi.
The high court granted anticipatory bail with the condition that the Ruias submit their passports to the lower court.