Massive Rs 155 Crore Financial Fraud Uncovered
Police have revealed a complex Rs 155 crore financial fraud involving CAs and commerce graduates, operated by a Nagpur businessman using shell companies for black money transactions. The prime accused, Santosh alias Bunty Rampal Shahu, was arrested with four others, and a large-scale scam is suspected.
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In a significant breakthrough, police have uncovered a Rs 155 crore financial fraud network allegedly run by a Nagpur-based businessman. The intricate scheme, involving Chartered Accountants and commerce graduates, was revealed following a raid on the office of Santosh alias Bunty Rampal Shahu.
Arrests have been made, taking the total to five individuals. Authorities seized crucial documents, including forged company papers. A forensic audit is underway as investigators froze eight bank accounts linked to the accused and his family, uncovering considerable fraudulent activity.
The investigation exposed a 15-member team facilitating high-stakes black money transactions through shell companies. Police suspect a larger financial syndicate at work, spanning dubious dealings through 170 fake companies, with the final scam tally possibly reaching thousands of crores.
(With inputs from agencies.)
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