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Sagar Thakkar, the mastermind of the Mira Road call centre scam, always knew how to make money, but never learnt how to hold on to it. "The real masterminds are free. I got caught because I showed off my wealth," said the 26-year-old who appeared on the police's radar after he bought a Rs 2.5-crore Audi owned by Virat Kohli.

"Buying a second-hand Audi R8 was not a big deal for me. I didn't even know it was Virat's car," said Shaggy."I had planned to return the car within a few days, but by then I had been arrested."

Started young
"I was only 15 when I started working, due to a financial crisis at home. I used to sell Chinese hard disks and flash drives at cheap rates. I had a dealer in China from whom I would buy my stock. Initially, no one would buy from me because I was so young, so I started selling the gadgets really cheap. Within a couple of years, I was sending shipments as far as Canada."

It was this business acumen that impressed the original ringleaders of the IRS racket, who eventually hired Shaggy to work at one of their bogus call centres when he was about 18. He would eventually go on to operate such call centres in Mumbai and Ahmedabad, raking in several crores from the scam. But that was not always the plan. "I was a bright child. I wanted to complete my education and become a pilot. I wanted to earn some quick money, so I could save up for the course. But as money poured in, I began to enjoy the comforts it brought," he recalled.

His parents did not approve either. "I would study in the afternoon and then work at the call centre at night. My parents didn't like me working at night. My father would say, 'What is the need for you to work; we can survive with less money.' Initially, he didn't even know about the fraud; all he knew was that I was working at a call centre. But I did so well that I became the head of the team immediately, and started earning lots of money. It was at that point that my attitude changed," said Shaggy.

Jail time
"Obviously, I regret it now. My love for money took me down the wrong path. I have lost the prime of my life in being chased by the law," said the conman, adding, "Jail was a nightmare. The food, sleeping area and overall atmosphere was horrible. I thought I would get bail soon, but got frustrated when that did not happen."
Cut off from crime, he turned to education once again. "I wanted to learn coding, but the jail didn't have the resources for it. I read books on economics and finance, and also learnt Marathi. I can speak the language quite well now," he said.

If only...
He remains bitter about getting caught, but didn't seem to show any remorse for the crimes he had committed. "I am not the mastermind of the scam. The real masterminds are free and happy. I don't want to disclose their names, but they have been operating since 2001. I got trapped because I showed off," he said, adding, "If I had not been arrested, I would have spread this business, or started a new one that would have spread beyond India by now."

Now, he is left with a fraction of the crores he once had. "I spent so much money, I didn't even save anything," said Shaggy. Shaggy has now set his sight on the future. "I will work hard again to repair mine and my family's reputation. A driven person like me will never sit and spill tears, but will always work hard to make the future better than my past."

Rs 25000
Amount found in Shaggy's accounts after arrest

Rs 2.5cr
Value of the Audi sports car he bought

Also Read: The big Mira Road call centre scam: What we know so far

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Kim-Mai Cutler Contributor Kim-Mai Cutler is an operating partner for Initialized Capital, an early-stage venture firm and was previously a journalist covering technology, finance and policy issues at TechCrunch -- best-known for her long-form work on the Bay Area. More posts by this contributor The outlook for Bay Area startup space in 2017 OpenVote launches […]