Visakhapatnam, May 13 (IANS): Andhra Pradesh police have registered a case against nine persons for fraudulently sending Rs 569 crore abroad through fake companies.
On a complaint by the Income Tax Department, the police in this coastal city registered a First Information Report (FIR) and sent search parties to Kolkata and other places to nab the accused.
Deputy Commissioner of Police Naveen Gulati told reporters here on Saturday that one Vaddi Mahesh, his father Vaddi Srinivas Rao and two other accused formed 12 bogus companies to facilitate transfer of funds and reporting turnovers. They opened 30 accounts in different banks in Visakhapatnam, Hyderabad, Kolkata and other places.
Of the Rs 680 crore domestic remittances in these banks accounts, Rs 569 crore was sent to five foreign companies in China, Singapore and Hong Kong.
An income tax official had lodged a complaint against the accused with MVP Colony police station. The preliminary investigation revealed that foreign remittances were meant for purchase of customised software but no software was ever imported.
