In a major crackdown, the West Bengal Police Cyber Crime Wing arrested prominent industrialist Pawan Ruia outside a hotel in Kolkata’s New Town on Tuesday. The arrest pertains to a massive multi-crore cyber fraud and money laundering racket involving illegal transactions worth approximately ₹315 crore.

The investigation, initiated by the Bidhannagar Cyber Crime Police, revealed that the funds were funneled through numerous shell companies and bank accounts linked to the Ruia family’s close associates. Detectives allege that the syndicate used complex banking layers and cryptocurrency to launder money abroad.

The arrest followed the Calcutta High Court’s decision to vacate the interim protection previously granted to Ruia and his family. The scam first came to light when a senior citizen was defrauded of ₹93 lakh through a fake investment app. According to the National Cyber Crime Reporting Portal, there are over 1,379 complaints registered across India against the accounts linked to this network. Pawan Ruia is scheduled to be produced before the Bidhannagar Court this Wednesday as police seek further custody to uncover the global roots of the operation.