Hyderabad Police Busts Inter-State Money Racket, 6 Held

The Central Crime Station (CCS) of Hyderabad City Police has arrested six persons across Kerala, West Bengal, Delhi, and Uttar Pradesh in Operation Ignite Crackdown — targeted early-intervention operations to disrupt a sophisticated inter-state money circulation scheme operating under the name IGNITE. 

Oneal Gupta, IGNITE team leader and recruiter, Dinesh Kumar Saahil and Priyanshu Saxena, Directors of Indi Konnect Ventures Private Limited, Praveen Kumar Dakalia and Paritosh Kumar Dakalia, Directors of Parasnath Mercantile Private Limited in Kolkata, and Riyaz, a field recruiter from Kerala, according to a press release



issued by Hyderabad police on Thursday.

It said IGNITE is run by the same principals who previously operated the banned QNET and Vihaan Direct Selling network. Three complaints were received between June 5 and 6 from victims in Hyderabad who had paid between Rs. 61,639 and Rs. 63,899 each — a total of Rs. 1.87 lakh — after being recruited through different channels.

According to the release, despite different approaches, all three victims were directed to pay into the same bank account belonging to one: Parasnath Mercantile Private Limited, which confirmed a single, coordinated collection infrastructure.