In a major breakthrough, police have arrested three men involved in a massive Rs15,000 crore GST fraud, which was perpetrated through the creation of 100 bogus firms. The suspects, Shubham Jindal (30) and TaTarunn Jindal (32), both residents of Delhi, and Kaushik Jain (35) , ARJaipur, were arrested by Sector 20 police at their respective residences.
The arrests come after a thorough investigation into a multi-crore GST scam involving the use of stolen or fake identities to register several companies. These fraudulent firms were then used to create e-way bills and claim input tax credits (ITC) from the government.
The trio was found to have been running an elaborate scheme where they created at least 100 fake companies over the past two years. They used these companies to generate counterfeit invoices, facilitating the illegal claim of ITC. These companies were then sold to businessmen, who in turn availed the fraudulent GST input tax credits on the fake invoices.
So far, 44 arrests have been made in connection with this extensive fraud, and investigations are ongoing to uncover additional suspects and recover the diverted funds.
