Cyber Fraud Racket: Non-Bailable Warrants Issued in $127 Crore Scam

The Prevention of Money Laundering Act (PMLA) court has ordered non-bailable warrants against Ketav Ravani and Karan Singh Shekhawat, linked to a massive extortion scheme that collected approximately Rs 127 crore from US citizens.

This case originated from a May 2025 FIR by the Pune Cyber Police, implicating Ravani, Shekhawat, and others in a high-tech scam operated under the firm name 'Magnatel BPS and Consultants LLP.' They allegedly used voicemails claiming Amazon account misuse for drug activities to extract funds through Bitcoin, gold, and gift cards.

The Enforcement Directorate, acting on the police findings, alleges the criminal profits were transferred into Indian currency through hawala networks. As Ravani is identified as a central figure at the call center, authorities emphasize the urgency in questioning the accused to trace and recover crime proceeds. Consequently, the court sanctioned non-bailable warrants to facilitate a thorough economic crime investigation.