A company based mostly in Noida has allegedly duped “billions of rupees” from “thousands of people” throughout the nation by tricking suppliers, officers informed PTI on Monday. The Noida Police has arrested two officers of the patron items import-export company.
Dubai Dry Fruits and Spices Hub, the accused company has a frontal enterprise of import and export of fast paced shopper items (FMCGs) with a luxurious company workplace within the industrial hub of Sector 62 in Noida.
In keeping with Extra Commissioner of Police (Legislation and Order) Love Kumar, the company has duped cash from a number of people and an FIR was lodged towards it in December. The company has fraud instances lodged towards it in Uttar Pradesh, Punjab, Haryana, West Bengal, Maharashtra, Karnataka and “another” south Indian states, the officer mentioned.
“Throughout investigation, the Noida police crew discovered two accused Mohit Goyal and Omprakash Jaangid and arrested them,” Kumar informed reporters. He mentioned Goyal is the important thing particular person within the gang which primarily has 5 to 6 core members and a number of other different associates, who’re but to be arrested. This was the fourth such agency floated by the gang after the earlier three acquired shut following prison instances towards them and arrest of gang members, he mentioned.
The modus operandi
On their modus operandi, Kumar mentioned, the gang will get a company registered and offers in FMCG merchandise like dry fruits, spices, lentils, rice, oil.
“They’d procure items from suppliers at charges greater than regular market value initially and make well timed cost, in a bid to make good impression on their goal.
They’d later place bulk orders and make 30 to 40 per cent of cost upfront, additional assuring suppliers of their credibility,” he mentioned.
Nevertheless, the remaining cost can be made in post-dated cheques which might bounce on the financial institution, he mentioned including the commodities purchased from suppliers would then be offered in open market by the gang at low charges.
“So mainly, they’d purchase real items from suppliers formally at greater charges however not pay them full cash in return and offered the products in open market in money and generate profits there,” Kumar mentioned.
He mentioned the gang first dabbled on this fraud in 2018 when it registered a company in Gurgaon and allegedly made cash fraudulently.
Later an FIR was lodged towards the company there and a few of the gang members had been despatched to jail.
They once more shaped a company within the identify of Shri Shyam Merchants and identical factor occurred.
An FIR was lodged, some gang members had been despatched to jail and the company was shut, he mentioned.
The third agency they floated was in Noida which dealt in Ayurvedic merchandise however once more duped people and acquired shut in an analogous method and Dubai Dry Fruits was there fourth company, Kumar mentioned.
“Complaints of fraud towards Dubai Dry Fruits have been made by people hailing from not solely Uttar Pradesh however Punjab, Haryana, West Bengal, Maharashtra, Karnataka and another south Indian states the place FIRs are lodged towards it,” the extra CP mentioned.
“Others related to this racket will probably be arrested quickly,” he added.
Kumar mentioned the Noida Police are seized of round two dozen instances throughout states towards the agency to date however are getting extra info from their counterparts in different states now about the entire nexus as it’s unfolding.
The police have seized 60 kgs of dry fruits, three cell phones, some digital objects, and paperwork from the accused individuals and impounded an Audi and a Toyota Innova from them, in accordance with a press release. (With PTI inputs)