The State Crime Branch of Haryana Police succeeded in solving a case of organized crime in which black money was being sent abroad illegally by the accused by creating fake companies. Investigation revealed that about Rs 700 crore had been illegally sent by the accused to the accounts of foreign companies. So far seven accused have been arrested in this case while a charge sheet has been filed in the court against five other accused.
The Haryana Police’s State Crime Branch has busted a major organised crime network involved in transferring black money abroad via fake companies. The investigation revealed that the accused had illegally transferred amounts around Rs 700 crore to foreign bank accounts as business transactions. So far, seven individuals have been arrested by the police, and chargesheets have been filed against five other suspects in court.
The police received an initial complaint on March 18, 2024, regarding suspicious financial transactions. Acting swiftly, Director General of Police (DGP) Shatrujeet Kapur directed a Special Investigation Team (SIT) led by Additional Director General of Police of State Crime Branch and Deputy Commissioner of Police, Gurugram Nitish Aggarwal. During the probe, it was revealed that the accused had established fake companies under the names of the dummy directors to conduct such illicit transactions.
The fake directors opened bank accounts with the assistance of certain bank officials who enabled them to complete e-KYC formalities. The accused maintained full control over these accounts including access to ATM cards, net banking credentials and registered mobile SIMs. The network through these companies, falsely registered in the names of dummies and operated imports and exports via Gujarat and Mumbai ports claiming transactions with the foreign entities by fake invoice prices, the gang was transferring money abroad, profiting from hefty commissions for each illegally transferred dollar.
The gang reportedly conducted funds transfers by showing fictitious sales and purchases. A substantial part of these transactions was involved in converting rupees into dollars being deposited in foreign company accounts. The accused even rented goods from foreign companies, falsely documented these as purchases, and later re-exported them without receiving any payment in return, as evidenced in the paperwork. To evade detection of irregularities, the accused maintained separate addresses, bank records and import-export documentation for each company making it difficult for authorities like the Directorate of Revenue Intelligence (DRI), Customs, Enforcement Directorate (ED), and Central GST to trace the irregularities.
Haryana Police received a complaint in this regard on 18 March 2024. Taking cognizance of the complaint received, a Special Investigation Team (SIT) was formed under the chairmanship of Additional Director General of Police, State Crime Branch and Deputy Commissioner of Police, Gurugram, Nitish Agarwal, as per the directions of Haryana Director General of Police Shatrujit Kapoor. During the investigation, it was found that the accused created the companies on the basis of fake documents in the name of dummy directors used to show business with foreign companies. It was found that the business premises, bank records, ROC and CGST records and import-export related documents were shown separately by the accused so that they could not be caught. Investigation revealed that 3 accused were from Delhi while others from Dehradun, Jhajjar, Sonepat and Faridabad. A charge sheet has been filed in the court against 5 accused in the case on the basis of complete evidence. Police during the investigation recovered, seized a large number of fake company documents, about 26 mobile phones, laptops, company seals etc from the accused.
