Key accused Harshit Jain arrested by Gujarat Police after Interpol Red Corner Notice and coordinated international operation
The Gujarat Police’s State Monitoring Cell (SMC) on Friday arrested Harshit Jain, the prime accused in a staggering Rs 2,323 crore scam involving illegal cricket betting and share market “dabba trading.” Jain was deported from Dubai after an Interpol Red Corner Notice and brought back to Ahmedabad, where he was produced before a court for custodial remand, reported timesofindia.indiatimes.com.
Jain allegedly laundered over Rs 2,323 crore through dummy firms and fake bank accounts linked to betting websites.
The scam was unearthed in March 2023 during a raid at Sumel Business Complex in Madhavpura, where police seized documents, cheque books, debit cards, and digital devices.
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Investigations revealed Jain as the mastermind, creating multiple shell companies using forged rental agreements and licences to open over 481 bank accounts
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These accounts were linked to betting platforms, enabling large-scale money laundering
So far, Rs 962 crore has been frozen, and the police believe Jain’s custodial interrogation will help trace additional funds, identify more beneficiaries, and follow the money trail abroad.
With Jain’s arrest, the total number of accused apprehended in the case has risen to 37. Authorities noted that the breakthrough was possible due to close cooperation between Gujarat Police, the Ministry of Home Affairs, the Ministry of External Affairs, and international enforcement agencies.
Officials described Jain’s deportation as a major success in tackling organised financial crimes with global dimensions.
