Mohit Jain Named in ₹2 Crore Fraud at India’s Geneva Mission, CBI Probes Crypto-Gambling Link

Crime Report | CA Mohite Jain News | Khabar 24 Express

New Delhi / Geneva: The Central Bureau of Investigation (CBI) has launched a detailed probe into an alleged financial fraud involving more than CHF 200,000 (around ₹2 crore) at India’s Permanent Mission in Geneva. The accused, Mohit Jain, a former accounts officer at the Mission, is suspected of diverting government funds to finance crypto-gambling activities, officials said.

Role of Mohit Jain in the Geneva Mission

Mohit Jain joined the Indian Mission in Geneva on December 17, 2024, as an Assistant Section Officer. He was entrusted with physically submitting payment instructions to the Union Bank of Switzerland (UBS), where the Mission maintains its Swiss franc (CHF) and US dollar (USD) accounts.

The Mission followed a system where payments to Swiss vendors were processed through invoices carrying pre-printed QR codes containing vendor bank details. These QR codes, along with payment slips approved by senior officials, were taken to the bank for processing — a task assigned to Jain.

How the ₹2 Crore Fraud Was Executed

Investigators suspect that Mohit Jain replaced legitimate vendor QR codes with self-generated QR codes linked to his personal UBS CHF account. As a result, payments meant for vendors were allegedly diverted directly into his own account.

Officials estimate that Jain siphoned off over CHF 200,000 within a year using this method.

Bank Statement Manipulation to Hide the Scam

The fraud reportedly remained undetected for months because Jain allegedly tampered with monthly bank statements, replacing his own name with that of legitimate vendors. These altered statements were then used during routine account reconciliation, effectively bypassing internal financial controls.

Jain also had account viewing rights, along with the Head of Chancery, which further helped him track and conceal the diverted transactions, officials said.

Audit Triggers Exposure

The scam came to light after auditors detected duplicate payments made to a local vendor, Ejey Travels. A deeper transaction review pointed to a suspected loss of around CHF 200,000, triggering an internal alert and subsequent investigation.

When confronted, Mohit Jain allegedly submitted a written confession, admitting that the misappropriated funds were used for crypto-based online gambling.

Repatriation and Partial Fund Recovery

Following the discovery, Jain was immediately repatriated to India along with his family. Officials confirmed that before leaving Switzerland, he credited CHF 12,830 through Ejey Travels to the Mission’s account and deposited an additional CHF 9,825 and CHF 28,000 directly into the Mission’s account.

CBI Registers Case, Probe Continues

The CBI has registered a case against Mohit Jain under charges including criminal breach of trust, forgery, falsification of accounts, and relevant sections of the Prevention of Corruption Act. Investigators are now examining additional financial trails and possible systemic lapses.

Rising Concern Over Crypto-Linked Financial Misuse

Officials noted that this case adds to a growing list of investigations where government officials are accused of embezzling public funds to finance activities related to online trading, gaming, gambling, and cryptocurrency platforms, raising serious concerns about financial oversight in overseas missions.

Crime Report | Khabar 24 Express

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