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5 arrested in connection with alleged GST Credit Fraud of Rs 700 crore

5 arrested in connection with alleged GST Credit Fraud of Rs 700 crore

There has been an arrest of 5 people from Gujarat in connection with the alleged GST credit fraud of  Rs 700 crore.

Accused person created a network of around 500 bogus firms using forged documentation (addresses, fake identities, etc) and ran a fake GST credit racket, by generating and passing on ITC of more than Rs 700 crore.

A joint investigation by the Central GST Commissionerate in Indore and the Madhya Pradesh Police’s cyber cell exposed that the accused directed the transactions via digital wallet accounts linked to several mobile numbers to avoid the conventional banking channels.

They were arrested from Surat in Gujarat on May 25.

The Key operator and his close associate are being interrogated by the CGST Indore Commissionerate officials, and the three others are being put to question by the cyber cell’s cops in Indore.

During the search operation the mobile phones, SIM Cards, Documents, Seals, & the letter pads pertaining to the fake firms from the premises linked to the accused have been seized by the Officials.

As per the Cyber Cell Indore’s unit inspector Rashid Khan, all the accused are school dropouts (Aged between 25-35)

Source: NDTV News
 

 

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