Massive Financial Scam Uncovered: Rs 382 Crore Tax Notice Exposes Aadhaar, PAN Misuse
A real estate agent from Diva, Thane, was shocked to receive an income tax notice accusing him of conducting transactions worth Rs 382 crore. An investigation revealed a massive financial scam involving fraudulent bank accounts and proprietary firms set u
Financial ScamAadhaar MisusePan MisuseMoney LaunderingIdentity TheftReal Estate MumbaiSep 23, 2024
The ordeal began in 2022 when the complainant was approached by an acquaintance who offered him a job at a monthly salary of Rs 20,000. The prime accused, along with two others, asked for his Aadhaar card, PAN card, photos, and a signed cheque. The trio allegedly used these documents to open multiple bank accounts and set up fake firms, including a proprietorship firm. These accounts were used for huge monetary deals to the tune of Rs 382 crore.
The scam came to light when the complainant received a notice from the Income Tax Department, asking him to explain the massive financial activity under his name. He approached the cyber crime police, who registered a case and began an investigation into the matter.
The police said the accused had used the complainant's documents to orchestrate the scam, facilitating illegal financial operations and money laundering through fake firms.
Frequently Asked Questions
What is the incident about?
A real estate agent from Diva, Thane, received an income tax notice accusing him of conducting transactions worth Rs 382 crore. An investigation revealed a massive financial scam involving fraudulent bank accounts and proprietary firms set up in his name for money laundering purposes.
How did the scam happen?
The accused used the complainant's documents, including his Aadhaar card, PAN card, photos, and a signed cheque, to open multiple bank accounts and set up fake firms.
What is the role of the Income Tax Department in this case?
The Income Tax Department issued a notice to the complainant, asking him to explain the massive financial activity under his name.
What is the warning given by the police?
The police have warned the public about sharing personal documents and to verify the authenticity of any communication from banks or financial institutions.
What is the importance of this incident?
The incident highlights the importance of being cautious while sharing personal documents and the need for strict verification processes to prevent such scams.
Related News Articles
Sheth Realty Invests Rs 150 Crore in Luxury Residential Project in Mumbai's Sion
Sheth Realty
GST on Real Estate Transactions: Understanding Reverse Charge Mechanism
Know the impact of GST on real estate transactions, including the requirement for promoters to purchase at least 80% of inputs and input services from registered persons.
Large Cap Mutual Funds: Understanding Performance and Strategy
Large-cap mutual funds are considered more secure, but Mirae Asset Large Cap has underperformed due to its disciplined investment strategy, focusing on strong growth sectors like infrastructure and real estate.
Hindenburg's Attack on SEBI's Credibility: A Case of Character Assassination?
SEBI chief Madhabi Puri Buch and her husband Dhaval refute allegations made by Hindenburg Research, calling them baseless and a attempt to attack SEBI's credibility.
Bengaluru Takes the Lead in Flex Office Space Deals
The Indian commercial real estate market has seen a significant rise in flex office space deals, with Bengaluru leading the way, accounting for 28% of the total transactions.
Mumbai Property Market Reaches New Heights in 2024, Recording Best-Ever Performance
Mumbai's property market has achieved its best annual performance in 2024, with over 1.41 lakh registrations and a 12% increase in stamp duty collection. The trend is expected to continue in 2025, driven by robust demand for higher-value properties and im