An RTI query has unveiled alarming statistics from the last five and a half years in the Economic Offences Wing (EOW), where fraud cases amounting to Rs 59,000 crore were registered. Shockingly, only four percent of the accused were found guilty. During this period, a total of Rs 37,24,81,214 was returned to the complainants. From January 2018 to July 2023, the EOW initiated 594 cases involving fraud valued at Rs 59,075 crore. Among the accused, 319 were acquitted, while a mere 14 were convicted by the court.
The shocking reality is that the conviction rate stands at a mere 4 percent. Even more concerning is that despite registering fraud cases amounting to Rs 59,000 crore in Mumbai over the last five-and-a-half years, only Rs 37.24 crore has been refunded to the affected individuals. This means that less than one percent of the duped amount has been returned to the complainants.
During the trial period, 264 closure reports were submitted, indicating that approximately half of the cases have reached a conclusion. Out of the 594 cases initially registered, the court has completed its investigation in 264 cases and closed the proceedings related to the accused or the alleged crimes. This suggests that more than half of the cases seem to still be under investigation.
Jitendra Ghadge, an activist from The Young Whistleblowers Foundation who obtained this information through an RTI request, emphasized the need for the Economic Offences Wing to take more stringent actions and to also investigate individuals who have been acquitted.