In a Rs 6-crore fraud case in which fake cheques were used to withdraw money from the account of another company,the Ludhiana Police has arrested five accused,including the mastermind. Two touts based in Delhi and city-based industrialist Harbhajan Singh Sandhu are still absconding.
Our investigations have brought to light the fact that mastermind of this case Ranjit Singh,who is a resident of Amritsar,is into these kinds of economic crimes. He is wanted in a similar case in Jalandhar where he tried to commit a fraud amounting to Rs 30 crore, said ADCP-1 Manjeet Singh Dhesi. The modus operandi is such that a chain of criminals was formed and they got in touch with Sandhu promising to bail him out of his financial woes.
Two touts,Rajiv and Deepak,are based in Delhi. They got in touch with Ranjit who roped in Amit,who knew Sandhus accountant Harish Kumar. Each one of them had their commission fixed. For example,Rajiv and Deepak were to get 30%,Ranjit Rs 10 lakh and so on. They used the cheques of this Madras-based company,which finances trucks. We got in touch with the general manager of this company who told us that the company had the original cheques of the same series which had not been presented to any bank to date, added Dhesi.
The police have arrested the five accused with a huge amount of cash. They are Haibowal Kalan resident Amit Kumar (Rs 30.45 lakh),Amritsar resident Ranjit Singh (Rs 10 lakh),Jagraon resident Balwinderpal (Rs 3 lakh),Ludhiana resident Harish Kumar (Rs 3 lakh),and Ludhiana resident Ranjit Singh (Rs 3 lakh).
As per the details available,Sandhu owed Rs 3.15 crore to another city-based industrialist Kunal Tanuja,who owns Ramson Tyres. Last week,he approached Tanuja and told him that he had managed to secure finance from another company and gave him cheques for Rs 3 crore each. Sandhu asked Tanuja to keep Rs 2 crore and return the rest Rs 4 crore into his account as he needed the money. Sandhu promised Tanuja that he would soon make the remaining payment. At first,Tanuja thought that his payment was finally coming through,so he deposited the cheques in the bank from where the amount was released into his own account. Tanuja then kept Rs 2 crore and gave Rs 4 crore to Sandhu. Tanuja smelled some fraud as a huge amount was moving around and Sandhu was booked by DRI last year too.
The accused came in three different cars to the bank and tried to encash their cheques. The evidence that we have against Sandhu is that not only did he ask Kunal Tanuja to transfer Rs 4 crore back into his account but also withdrew Rs 80 lakh from this account. Tanuja,who reported the case to us,did not use any money from the Rs 2 crore that he was given by Sandhu as part of the money he owed to Tanuja, added Dhesi.