Home / Crime and Justice / Industrialist Ruia Nabbed in Multi-Crore Crypto Fraud
Industrialist Ruia Nabbed in Multi-Crore Crypto Fraud
1 Apr
Summary
- Industrialist Pawan Ruia arrested for multi-crore fraud.
- Rs 315 crore allegedly linked to shell companies.
- Case involves cryptocurrency-based money laundering.
West Bengal Police's Cyber Crime Wing apprehended industrialist Pawan Ruia on Tuesday in connection with a multi-crore fraud involving shell companies and cryptocurrency-based money laundering. The arrest occurred near a New Town hotel, just outside Kolkata.
A suo motu case was registered, revealing alleged proceeds of Rs 315 crore traced to shell company accounts and individuals linked to Ruia's family. This action followed the Calcutta High Court's decision to vacate interim protection previously granted to the accused and his relatives.
Investigators revealed the case stems from defrauding a senior citizen of approximately Rs 93 lakh via a fake investment scheme. Funds were purportedly routed through multiple shell company accounts and laundered abroad using layered banking channels and cryptocurrencies.
Data from the National Cyber Crime Reporting Portal indicates links between Ruia and at least 1,379 cyber fraud complaints nationwide. Another individual, Rahul Verma, was arrested in November 2025 and is currently in judicial custody.
