Rs. CA arrested in Rs 1,100 crore remittance scam

(PTI) New delhi date. 3

The ED has arrested a chartered accountant (CA) from Hyderabad who helped shell companies send Rs 1,100 crore to Hong Kong. Ravi Kumar, an associate of HAR Associates, has been arrested under the provisions of the Prevention of Money Laundering Act (PMLA).

After his arrest, he was produced before a special court in Hyderabad, where he was remanded in the custody of the agency till December 4.

The agency said in a statement that the action was taken against Chinese-controlled companies Lincoln Technology Pvt Ltd and DockPay Technology Pvt Ltd. These companies cheated millions of people using illegal gaming, dating and streaming applications.

The ED further said that these companies had raised thousands of crores of rupees through online payment gateways. The thousands of crores of rupees collected were sent abroad through various channels.

During the investigation, ED found several fake airway bills and fake cloud rental bills. The ED alleges that Ravi Kumar issued 21 bogus Form 19 CBs without any investigation and signed the balance sheets of the shell companies. It is alleged that he charged Rs 1,500 for the bogus certificate.