Source : INDIA TODAY NEWS
The Enforcement Directorate (ED) initiated search operations at nine locations across Kolkata, Ranchi and Jamshedpur in connection with a money laundering investigation linked to fraudulent GST invoices.
The accused, including Shiv Kumar Deora, Sumit Gupta and Amit Gupta, are alleged to have generated fake invoices worth approximately Rs 14,325 crore, resulting in ineligible input tax credit claims of over Rs 800 crore.
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The searches aim to uncover documents and assets linked to the proceeds of crime under the provisions of the Prevention of Money Laundering Act (PMLA).
The searches are in a bid to trace assets and documents linked to alleged GST fraud. Officials suspect fake sales records were used to illegally claim tax benefits. Acting under the Prevention of Money Laundering Act, the ED is now tracking down the proceeds of the suspected scam.
Deora and Amit Gupta were arrested last year by the Goods and Services Tax Intelligence Wing (GST IW) in GST fraud cases.
In March 2024, the Jamshedpur regional unit Directorate General of GST IW busted a GST fraud racket of about Rs 132 crore and arrested Deora, a Kolkata-based trader, who had reportedly committed multi-crore fraud by generating fake invoice bills in the name of dummy companies. Officials said the fraud could run into over Rs 500 crores as the racket is spread across Odisha, West Bengal, Chhattisgarh, Jharkhand and even Tamil Nadu.
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In April last year, Amit Gupta and Sumit Gupta were arrested from their residence in Kolkata’s Salt Lake area.
SOURCE :- TIMES OF INDIA
