The Enforcement Directorate has arrested two men in connection with its money laundering probe into an alleged pan-India cyber fraud and “digital arrest” racket involving transactions estimated at Rs 30,000 crore, sources said on Monday. The agency suspects the network is connected to around 300 victim complaints and 150-160 FIRs registered across 20 states and Union Territories.

Fahim Moin Hussain Sayed and Naim Mueen Sayyed were arrested in Mumbai on Sunday, according to sources. The investigation began after a woman from Goa was allegedly subjected to a digital arrest and forced to transfer Rs 2.60 crore between May and June 2025 into accounts described as “Secret Supervision Accounts”.

Two Arrested In Mumbai, Sent To Goa

The ED produced the two accused before a special Prevention of Money Laundering Act court in Mumbai on Sunday. The court granted the agency transit remand, allowing the accused to be taken to Panaji, where the case has been registered.

The agency is expected to produce them before a special court in Panaji on Monday and seek their custodial interrogation, sources said.

The case is being investigated by the ED under the money laundering law and forms part of a wider probe into an alleged cybercrime network operating across multiple states and Union Territories.

Rs 30,000 Crore In Alleged Transactions Under Scanner

During its investigation, the ED traced the money allegedly taken from the Goa-based victim through various bank accounts. The funds were reportedly withdrawn as cash and subsequently converted into foreign currency through money changers licensed by the Reserve Bank of India.

Sources said the agency suspects that the alleged network handled bank transactions worth around Rs 27,000 crore, in addition to cash dealings estimated at Rs 3,000 crore.

The total amount allegedly defrauded from victims is estimated at around Rs 4,000 crore, according to sources.

The investigation has so far linked the alleged network to approximately 300 complaints and 150-160 FIRs registered in 20 states and Union Territories, indicating the scale of the suspected operation.

ED Searches Goa And Mumbai Premises

The ED has conducted two rounds of searches as part of the investigation. The first was carried out in Goa and Mumbai in July, followed by another round on August 21.

During the searches, the agency seized around Rs 3.25 crore in cash, sources said.

Investigators also examined the alleged use of shell and dummy companies in the network. According to sources, several such entities had drivers and other employees living in single-room accommodation listed as their directors.

The ED suspects that the use of such individuals and entities was part of the alleged network’s method of operating and moving funds.

The arrests are part of the agency’s wider investigation into an alleged cyber fraud network suspected of operating across several parts of the country and using multiple channels to receive, withdraw and transfer money obtained from victims.

Long or Short, get news the way you like. No ads. No redirections. Download Newspin and Stay Alert, The CSR Journal Mobile app, for fast, crisp, clean updates!

App Store –  https://apps.apple.com/in/app/newspin/id6746449540 

Google Play Store – https://play.google.com/store/apps/details?id=com.inventifweb.newspin&pcampaignid=web_share