Cambodiareturn Accused Denied Bail In 58 Crore Digital Arrest Fraud

MUMBAI: A sessions court on Tuesday rejected the bail plea of an accused in the ₹58 crore “digital arrest” fraud case, holding that his alleged role in siphoning off the proceeds of crime and his conduct after the offence came to light distinguished him from several co-accused who have secured bail in recent weeks.

Rejecting the application of Riyaz Raji Sayyad, Additional Sessions Judge Nitin V. Jiwane noted that the prosecution had attributed a specific role to him in the conspiracy and alleged that he absconded after the case was registered. The court observed that Sayyad was arrested only after a Look Out Circular (LOC) was issued and he returned to India from Cambodia.

The case relates to what investigators describe as one of the country’s biggest “digital arrest” frauds. The accused allegedly duped a city businessman of ₹58 crore by posing as officials of the Telecom Regulatory Authority of India (TRAI), the Central Bureau of Investigation (CBI) and cybercrime authorities.

According to investigators, the fraudsters falsely claimed that the businessman was under investigation in a money-laundering case linked to Jet Airways founder Naresh Goyal and coerced him into transferring money over several weeks through threats, forged notices and video-call surveillance.

The prosecution alleged that Sayyad colluded with co-accused Rohit Kelkar to procure a bank account through which ₹9.85 lakh of the defrauded amount was routed before being withdrawn. It further claimed that Sayyad paid the account holder a commission and received ₹5 lakh of the fraud proceeds in his own bank account, most of which was withdrawn the same day.

The prosecution further alleged that Sayyad absconded after the offence was registered, forcing investigators to secure a Look Out Circular against him. The order records that he was arrested only when he arrived at Delhi airport after returning from Cambodia. Investigators also claimed that he had links with absconding accused Prince Jaiswal and Sumit alias Smith Manager Giri.

Drawing a distinction between Sayyad and several co-accused who have already been enlarged on bail, the court observed, “The role assigned to the present applicant that he was one of the gang member who involved in the commissioning of the crime and siphoning off the amount, differentiates the role of the present applicant with that of already released accused persons.”

Rejecting the application, the court held, “the possibility of applicant fleeing away from the trial and tampering of the prosecution evidence cannot be ruled out.”

Police have so far arrested more than 30 accused and arraigned over 70 persons in the case, with more than a dozen securing bail in recent weeks.