₹1700 Crore Fake Invoice Scam Busted in Vizag
The GST Vigilance Department in Visakhapatnam has uncovered a massive fake invoice scam worth nearly ₹1700 crore.
Officials revealed that the scam involved the creation of bogus companies and fraudulent GST credit claims, causing a major loss to the government treasury.
Mastermind Anjireddy Arrested
The alleged mastermind behind the fake invoice racket, Adireddy alias Anjireddy, was arrested by the Directorate General of Intelligence (DGI) after a detailed financial tracking investigation.
Authorities reportedly tracked his financial transactions and movements before taking him into custody.
92 Fake Companies Created
During the investigation, officials discovered that around 92 fake companies were established to illegally claim GST input tax credits.
According to investigators, Anjireddy allegedly used Aadhaar-linked PAN cards belonging to innocent individuals to create these bogus firms and operate the fraudulent network.
Government Loss Estimated at ₹264 Crores
Officials stated that the identified loss to the government treasury currently stands at around ₹264 crore, while the total fake invoice transactions linked to the network are estimated to be nearly ₹1700 crore.
The GST Vigilance Department is continuing its investigation to identify all individuals and businesses that benefited from the fake invoices.
Investigation into Beneficiaries Continues
Authorities are now focusing on tracing those who profited through fraudulent GST claims and fake billing transactions.
The case is considered one of the major GST fraud investigations uncovered in the Visakhapatnam region in recent times.
Major Crackdown on Fake Invoice Cartels
The latest operation highlights the increasing crackdown by GST enforcement agencies on fake invoice cartels and tax fraud networks operating across different states.
Officials are expected to continue financial audits and digital tracking to uncover the complete extent of the scam.
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