THE MAN BEHIND ‘SCAM 2021’ GOT ARRESTED!
The businessman who cheated over 25 banks of 4000 crore got arrested by the Delhi Police’s Economic Offences wing. The mastermind’s name is Vinay Sharma(42), he runs petrol pump, tech startup, aluminum scarp unit and also manage private business in Himachal Pradesh.
He is allegedly said to cheat more than twenty five banks of 4000 crore. He is said to be involved in five cases of fraud out of which two cases are with the central bureau of Investigation and has been absconding for years.
In 2016 a complaint was lodged against Sharma and another guy, both director of aluminum scrap business Indian Technomac, this complain was lodged by standard chartered bank in Delhi, said the additional CP(eow) RK Sharma. He further said that they obtained credit facilities of Rs 30 crore but never paid the dues. It was later found that the letter of credits was of shell companies. Both the director were absconding.
It was during investigation that the police found out that Sharma has cheated serval banks using fake bills and letters of credit. They showed fake invoices and took loans but never returned the money. It was only because of their high business profile and high income invoices, banks agreed to give them loans said police.
In 2016, the two accused also allegedly cheated a consortium of 15 banks of Rs 1528 crore, they did so by using fake documents and bills. And In another case they cheated 9 banks of rs 555 crore using another company’s bill the police said. Both of these cases are with CBI.
The accused was also involved in excise duty fraud which was of 2000 crore. This matter has been registered by CID Himachal Pradesh.
Police was raiding Sharma’s hideout and they arrested him from Kangra in Himachal Pradesh. The accused used record and bills of companies that were fake and obtained loan through it, the police said that these companies didn’t even exist. Sharma produced fake invoices of transportation business to avail more loan said the police.