A Chartered Accountant was detained together with four additional men being involved in cybercrimes with a Chinese gang. According to reports, the accused opened approximately ten fictitious businesses and numerous other accounts in order to defraud dozens of people and steal their money.
The accountant opened 30 current and savings accounts and entrusted the management of these accounts to a Chinese gang, according to information provided by the police. In just a few months, transactions totalling Rs. 10 crores were made on the bank accounts of the bogus companies that the police accessed.
According to the claims, the scam’s contrive was a chartered accountant. He previously worked as an accountant, and last year, he contacted a Chinese gang via Telegram. It was also claimed that the accountant registered a number of bank accounts in the names of these fake businesses and that he also opened accounts using other people’s identity documents.
According to Hardik Makadia, Assistant Commissioner of Police (ACP) for Cybercrime, there is a global conspiracy in which some Indians illegally worked with a Chinese gang to defraud the public and make millions of dollars in a matter of days. The stolen funds were transferred between a number of bank accounts and then transported overseas via cryptocurrency.
According to the information, this accountant has even gone to Malaysia to meet the Chinese gang. The police claimed that they have the images of the meetings.
The time has come for the government to regulate and tighten regulations to keep the citizenry safe as the stolen money was transformed into cryptocurrency. The nation’s legal deficiencies were of more interest to the fraudsters.
It is quite pitiful that a professional who ought to be doing good acts for the community had very cleverly conned them with a Chinese Gang. The populace should be informed about local events. Since educated people are increasingly becoming avaricious, people should be even more cautious.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
