Fraudulent Financial Web: Arrests Made in GST and VAT Scam
The Economic Offences Wing arrested two individuals, including a chartered accountant, in a case involving fraudulent use of GST and VAT credentials. They allegedly used dummy firms and multiple accounts to route funds illicitly. The investigation traced the misuse back to two suspects, uncovering extensive financial manipulation.
- Country:
- India
In a significant crackdown, the Economic Offences Wing (EOW) has apprehended two individuals involved in a multi-crore fraud surrounding GST and VAT irregularities. Among those arrested is a chartered accountant, Atul Gupta, linked to suspicious transactions worth crores, allegedly executed using fraudulent business practices, dummy firms, and layered funds.
The suspects, identified as Rajeev Kumar Parasar and Atul Gupta, were operating from a Chandni Chowk-based accountancy firm. The arrests followed an FIR registered after Yashashwee Sharma filed a complaint alleging the misuse of his firm's credentials for unauthorized transactions amounting to Rs 28.4 crore.
Authorities revealed that the accused manipulated accounts and routed money through multiple channels, obscuring the financial trail. Gupta, along with the late Prakash Gupta, allegedly facilitated fraudulent GST returns and compliance filings. Both suspects were brought before a court and are currently on police remand as the investigation seeks additional evidence and identifies co-conspirators.
(With inputs from agencies.)
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