https://the420.in/uae-deports-indian-fugitive-2300-crore-betting-fraud/

The Central Bureau of Investigation (CBI) confirmed on Thursday that the United Arab Emirates has deported Harshit Babulal Jain, the alleged mastermind behind a massive betting and money laundering racket estimated at ₹2,300 crore. Jain, who fled India following a raid in March 2023, was handed over to Gujarat Police upon arrival in Ahmedabad on September 5.

The repatriation followed months of cooperation between Indian agencies, including the Ministry of External Affairs (MEA), the Ministry of Home Affairs (MHA), and UAE authorities. Interpol had issued a Red Notice against Jain in August 2023, paving the way for his eventual arrest and deportation.

A Cross-Border Operation

According to officials, Jain was the principal accused in a sprawling racket allegedly connected to the Mahadev syndicate, a network already under scrutiny for its operations across South Asia and the Gulf. Investigators revealed that the group employed sophisticated methods to camouflage betting transactions, using servers running MetaTrader software to mimic legitimate stock market trades.

DIG Nirlipta Rai of Gujarat’s State Monitoring Cell said Jain’s syndicate routed more than ₹2,300 crore through hundreds of bank accounts. Authorities have frozen ₹9.62 crore held across 481 accounts, while over 1,500 others were linked to the betting network.

Rai added that Jain was located in Dubai after Interpol issued the alert, and a formal extradition request was pursued in December 2023. His deportation marks one of the most significant recent successes in India’s battle against fugitives who operate transnational crime networks from overseas safe havens.

A Wider Crackdown

The investigation has already led to 37 arrests, with lookout notices issued for eight additional suspects. Raids have yielded laptops, debit cards, company seals, mobile phones, and digital evidence, underscoring the scale and sophistication of the racket.

The CBI noted that more than 100 fugitives have been brought back to India in the last few years through Interpol coordination, with the Gulf region becoming a focal point of these operations. Officials see Jain’s capture as part of a broader campaign to clamp down on economic offenders who exploit cross-border financial systems to evade Indian law enforcement.

While the legal process against Jain now begins in India, investigators believe the financial trail he leaves behind may uncover deeper links between domestic betting operations and global money-laundering channels.