The Rajkot Rural Police said 20 people have been arrested so far as part of “Operation Mule Hunt”, including three officials from private sector banks—Yes Bank, Axis Bank and HDFC Bank.
Bank officials among those held
The three arrested have been identified as Maulik Kamani, a personal manager at Yes Bank in Padadhari; Kalpesh Dangariya, a manager at Axis Bank in Jamnagar; and Anurag Baldha, a personal banker with HDFC Bank.
According to Rajkot (Rural) Superintendent of Police Vijay Gurjar, Dangariya and Baldha had previously worked with Yes Bank.
Alleged modus operandi
Police allege that the accused facilitated the creation and operation of fraudulent or suspicious bank accounts used in the cyber fraud network.
Kamani allegedly helped earlier accused open and manage accounts flagged for unusual activity. He is also accused of helping bypass banking alerts triggered by high-value transactions by submitting additional documentation to keep accounts active. Investigators said he was involved in cash withdrawals later routed through hawala channels, with digital evidence recovered from his mobile device.
Dangariya is accused of aiding the opening of accounts using fake or misrepresented identities. Police said he also helped structure documentation, including papers linked to Agricultural Produce Market Committee (APMC) transactions, to avoid scrutiny.
Baldha allegedly opened new accounts following verification and certification processes as part of the racket.
Scale of the fraud
Authorities have identified 85 bank accounts linked to the operation so far. A total of 535 complaints have been registered on the national cybercrime portal in connection with the case.
Investigation status
All three bank officials are currently in police custody, while other accused are lodged in jail under judicial remand. Investigations are ongoing as police continue to trace financial trails and identify additional links in the network.
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First Published: Apr 21, 2026 9:36 AM IST
