Major Fraud Bust: Trade Benefits Scam Exposed

In a significant development, the Delhi Police has apprehended a man implicated in a major cheating and forgery case to fraudulently secure trade benefits exceeding Rs 30.47 crore. This comes as part of a wider investigation under the Foreign Trade Policy, officials revealed on Saturday.

Identified as Angad Pal Singh, also known as Angad Singh Chandhok, the accused was deported from the United States and taken into custody on June 2. This follows his prior arrest by the Central Bureau of Investigation in relation to a separate fraud case and his current judicial custody status.

Central to the case, registered initially in January 2017, are allegations submitted by a private bank. The bank reported 467 counterfeit Foreign Inward Remittance Certificates submitted across several firm accounts, leading to the fraudulent acquisition of non-cash incentives meant for actual export transactions. The investigation is ongoing, aiming to uncover further elements of the conspiracy.

(With inputs from agencies.)