Ahmedabad's Crime Branch has arrested six individuals in connection with two separate cybercrime investigations, one involving a cryptocurrency fraud worth nearly Rs 100 crore (approximately $11 million) and another concerning a product-swapping ring targeting major e-commerce platforms.
The primary case centers on software specialist Sujit Shankarrao Dev (also known as Sujit Shankarrao Jadav), who was arrested on February 17, 2026, near Ahmedabad Airport after evading capture for nearly two years. Dev had been wanted since 2021 for allegedly promising residents of Mumbai's Dahisar region a fourfold return on investments in Bitcoin and mining programs. Police allege he collected savings from more than a hundred investors, amassing close to Rs 100 crore before disappearing. Funds were reportedly transferred through anonymous digital wallets, stored in cold storage, or sent overseas. Dev faces charges under sections 406, 420, 34, and 120(B) of the Indian Penal Code, as well as provisions of the Maharashtra Protection of Interest of Depositors Act.
In a parallel investigation, authorities arrested five men—Ramlal (Romil Gahlot), Manoj Kumar Mali, Bharat Kumar Sundesha, Vishal Hasmukhbhai Panchal, and Vishal Kanjibhai Bavri—for operating a "switch and scam" scheme. The gang allegedly intercepted packages from platforms like Flipkart and Amazon, replacing high-value items like laptops and smartphones with counterfeit goods before resealing and delivering them. Police recovered goods worth over Rs 20.5 lakh, and two other suspects remain at large.
These busts coincide with alarming national cyber fraud statistics. In 2025 alone, online frauds cost Indians Rs 22,495 crore ($2.48 billion), with the National Cyber Crime Reporting Portal receiving over 24 million complaints. Authorities warn that a significant portion of these losses stem from cryptocurrency investment scams promising guaranteed profits, highlighting the misuse of digital assets by criminal networks rather than flaws in the underlying technology like Bitcoin.
