ED arrests alleged RTGS agent in Goa cyber fraud case

Traders Union
All News
Regulators
Goa cyber scam ED arrest

Highlights

ED arrested Mukesh Kumar Pukhraj Jain under the PMLA on 16 October 2026 in a ₹2.6 crore cyber fraud case.
Jain arranged bank credits into the network's accounts as an RTGS agent and received commissions and cash payments, admitting that the funds came from cybercrime.
This multi-state network was linked to 300 victims and 160 FIRs across more than 20 states, with funds converted into foreign currency and evidence destroyed.

This article was translated from the original. Read the original version by our correspondent here.

Arrest, allegations and basis of the investigation

As stated by the Enforcement Directorate, the Panaji Zonal Office arrested Mukesh Kumar Pukhraj Jain, also known as Mukesh Bhai, on 16 October 2026 under the Prevention of Money Laundering Act, 2002. The action followed an investigation initiated on the basis of an FIR registered at the Cyber Crime Police Station in North Goa, and the Special PMLA Court, Goa remanded him to ED custody until 19 October 2026.

The case concerns an alleged "digital arrest" scam involving a resident of Goa. According to the investigating agency, the victim was made to believe during a video call that she was under criminal investigation and was pressured into transferring around ₹2.6 crore to accounts allegedly described as "secret supervision accounts."

The ED says Jain is the sixth person arrested in the case. According to the agency, he acted as an RTGS agent for the network and arranged bank credits into the network's accounts through intermediaries, in return for cash and commissions from those controlling the network.

Multi-state network and regional impact

In its investigation, the ED said the alleged fraud proceeds reached a network of companies created to receive cybercrime proceeds through bank transfers, convert them into cash, and then exchange them into foreign currency. According to the agency, the network's accounts have surfaced in more than 300 victim complaints and over 160 FIRs across more than 20 states and Union Territories.

Citing statements made during the investigation, the agency said Jain admitted that he knew the funds flowing through this chain came from cyber fraud, including cases linked to digital arrest scams. According to the ED, after the searches, he destroyed records and mobile phones containing evidence related to this operation, failed to appear for questioning on the scheduled date, and gave evasive answers when he later appeared.

The case again draws attention to the rapidly growing cyber financial crimes in India and the misuse of banking channels, particularly by networks allegedly moving fraud proceeds through multiple accounts and entities. The ED has said that further investigation in the case is ongoing.

Our previous report provided an update on ED action in a case involving the alleged embezzlement of ₹14.95 crore from Dr. B.R. Ambedkar Development Corporation Limited. It included details of allegations involving a fake bank account, withdrawals using forged documents, a supplementary prosecution complaint, requests for asset seizure/attachment, and layering funds through multiple accounts to conceal their source.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.