India, April 1 -- The Cyber Crime Wing of the West Bengal Police on Tuesday arrested industrialist Pawan Ruia in connection with his alleged involvement in a multi-crore fraud case involving shell companies and cryptocurrency-based money laundering, a senior officer said.

Ruia was apprehended near a hotel in New Town in the outskirts of Kolkata following a case registered at Bidhannagar Cyber Crime Police Station, he said. The police have registered a suo motu case based on findings from their probe into cybercrime cases, with proceeds amounting to Rs 315 crore allegedly traced to bank accounts of shell companies and individuals linked to the Ruia family, sources said.

The arrest comes after the Calcutta High Court earlier in the day va...