The West Bengal Police’s Cyber Crime Wing arrested industrialist Pawan Ruia on Tuesday in connection with a multi-crore fraud case involving shell companies and cryptocurrency-based money laundering. Ruia was apprehended near a hotel in New Town on the outskirts of Kolkata following a case registered at Bidhannagar Cyber Crime Police Station. Authorities initiated the arrest after a suo motu case was filed based on their investigation into cybercrime cases, revealing proceeds amounting to Rs 315 crore that were allegedly traced to bank accounts of shell companies and individuals associated with the Ruia family.
The arrest followed the Calcutta High Court’s decision earlier in the day to lift interim protection granted to the accused and his family members, paving the way for police action. Last December, the High Court had granted anticipatory bail to Ruia, his son Raghav, and daughter Pallavi regarding the case involving the alleged parking of proceeds from online scams in their bank accounts. Investigators disclosed that the case involved defrauding a senior citizen of nearly Rs 93 lakh through a fake investment scheme operated via a mobile application, with the funds being channeled through multiple shell company accounts.
Authorities revealed that the investigation uncovered a significant interstate cyber fraud network with connections nationwide. The accused and their associates reportedly utilized layered banking channels and cryptocurrencies to divert and launder funds internationally. Data from the National Cyber Crime Reporting Portal indicated links between the accused and around 1,379 cyber fraud complaints across the country.
Earlier, Rahul Verma was arrested at Delhi airport in November 2025 while allegedly attempting to flee the country in connection with the case. He is currently in judicial custody, and a separate investigation was launched at Barrackpore Cyber Crime Police Station to delve into the broader network involved in the fraud. The National Cyber Crime Reporting Portal data revealed that as of October 31, over 1,379 complaints had been lodged against these shell company accounts, with more than 100 originating from West Bengal.
Ruia is scheduled to appear before the Bidhannagar ACJM Court on Wednesday for further legal proceedings.