Bengaluru: Govt loses Rs 176 Cr as fraudsters exploit poor citizens & evade taxes

Team Udayavani, Jul 4, 2023, 3:08 PM IST

A 34-year-old man identified as Khadeem, hailing from Chennai, and his accomplice have been apprehended by the police for orchestrating a massive scam resulting in a loss of Rs 176 crore to the government.

The duo allegedly exploited the names of underprivileged individuals, using their Aadhaar-PAN card details to open fake companies with the intention of obtaining bank loans meant for the poor. They proceeded to generate fictitious bills to deceive institutions and evade taxes.

Officials from the GST intelligence department disclosed that the investigation unfolded after the initial arrest of one member of the fraudster group.

Subsequently, crucial information regarding the extensive network involved in the scam came to light. The authorities managed to apprehend the alleged mastermind of the group at Bangalore airport, just as he was attempting to flee the country under a false identity.