Noida CA Arrested from Delhi Airport by Bengaluru Police in Fake Bank Guarantee Fraud of ₹168 Crores

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Noida CA Arrested from Delhi Airport

Noida CA Arrested from Delhi Airport by Bengaluru Police in Fake Bank Guarantee Fraud of ₹168 Crores

A Noida-based chartered accountant was arrested from Delhi Airport and linked to a Fake Bank Guarantee Fraud worth ₹168 Crores.

Bengaluru, Karnataka:  Recently, Bengaluru Police arrested a Chartered Accountant (CA) from Noida from Delhi’s Indira Gandhi International Airport (IGI Airport) in the case of fake e-bank guarantee fraud of ₹168 crore. The arrested accused had been absconding for several months and Bengaluru Police was busy searching for him.  Bengaluru Police has taken the arrested Chartered Accountant (CA) with itself.

Was Involved in Fraud of ₹168 Crores

Bengaluru Police arrested Ashish Rai alias Ashish Saxena on Wednesday, a chartered accountant resident of Noida, from Delhi’s Indira Gandhi International Airport.  The arrested Ashish Rai was returning from Kuwait and the Immigration officials took him into custody at the airport.

Bengaluru Police had issued a Look Out Circular against Ashish in February.  According to the police, the arrested accused Ashish Rai is a chartered accountant and a resident of Noida.  He is accused of defrauding 11 private companies through fake bank guarantees of Rs 168 crore. It took time for the police to come to know about this matter when the bank guarantees deposited by these companies were found to be fake.

After this, an officer of National e-Governance Services Limited registered a case of fraud in Bengaluru.

Investigation revealed that the accused had used their professional connections to contact chartered accountants and financial advisors of the companies on the pretext of providing them bank guarantee certificates.  In return, the arrested accused Ashish got ₹5 crore as a commission.

 

After committing the fraud, the accused Ashish had gone to Kuwait with the help of his associate and was working there.  Meanwhile, an investigation by Bengaluru Police revealed that out of the 11 companies with which the accused had committed fraud, 9 were outside Bengaluru.

Two laptops, a good mobile phone, and 10 checkbooks of various bank accounts have been recovered from the possession of the arrested accused.

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space.  Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM.  Naager entered the field of content in an unusual way.  He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts.  He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field.  In the bottom line, he frequently writes for Craw Security.

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