Bengal Businessman Pawan Ruia's Empire Linked to ₹317cr Cyber Heist
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West Bengal Police has cracked a massive ₹317-crore cyber fraud case that involved 148 shell companies. The investigation led to the raid of several premises linked to businessman Pawan Ruia, who is accused of being directly involved in the racket. According to police, over 1,379 people were cheated out of the huge sum, with funds being routed through numerous bank accounts of shell companies before being siphoned off to various mule accounts. The police statement revealed that around ₹170 crore of the diverted funds was converted into cryptocurrency to evade law enforcement. A suo motu FIR was registered at Barrackpore Cyber Crime Police Station on November 5, naming Ruia, his family members, and close associates. The FIR also noted that 11 directors linked to Ruia-controlled entities hold positions on the boards of 186 other companies across India. Police teams conducted coordinated searches at multiple locations, including Ruia Centre, Dunlop Industrial Products Pvt Ltd, Berger House, and Ruia's residence in Ballygunge. The investigation is ongoing, and the police are working to recover the diverted funds and freeze the assets of those involved.
