In a major crackdown on high-profile financial crimes, the Cyber Crime Wing of West Bengal Police arrested prominent industrialist Pawan Ruia on Tuesday from the Newtown area. The former owner of iconic brands like Dunlop and Jessop is allegedly embroiled in a massive ₹600 crore cyber fraud racket. Following several rounds of interrogation and previous raids at his residence and offices, the authorities finally took him into custody after finding direct links to illegal fund diversions.

The investigation reveals a sophisticated network where proceeds from nationwide cybercrimes were allegedly funneled into bank accounts controlled by Ruia and his family members. According to police sources, the scam involved 148 shell companies that shared common addresses and were used to “wash” the illicit money. A significant portion of the defrauded funds, estimated at over ₹300 crore, was reportedly converted into cryptocurrency to evade law enforcement agencies. This arrest follows a suo motu FIR filed in November 2025 after a local resident reported a massive loss via a fraudulent mobile app.

Pawan Ruia is scheduled to be produced before the Bidhannagar ACJM Court on Wednesday. The arrest has sent shockwaves across the industrial sector in Bengal. Investigators are now probing the international links of this syndicate and the exact role of Ruia’s immediate family members named in the FIR. With the new financial year beginning April 1, this high-stakes arrest underscores the government’s aggressive stance against cybercriminals and financial kingpins involved in digital money laundering.