23-05-2025
DGGI Visakhapatnam unit arrests a man from Tamil Nadu on charge of generating fake invoices worth ₹643.81 crore
Director General of GST Intelligence (DGGI) Visakhapatnam Zonal Unit, arrested Aboobakr Siddique Syed, a native of Pernambut, Vellore, who was allegedly involved in generating fake invoices worth ₹643.81 crore, responsible for a massive Goods and Services Tax (GST) input tax credit fraud, causing a loss of ₹115.88 crore to the government exchequer.
As per a release from the officials on Friday, the accused is believed to have masterminded a complex scheme involving the creation of shell entities/companies using stolen identities of unsuspecting individuals, operating his network in the States of Andhra Pradesh, Tamil Nadu and Karnataka.
The accused created more than 302 firms with the stolen identities and allowed the receiving firms of these invocies to evade tax payments and divert substantial sums of money by defrauding the public exchequer.
The investigation led by the DGGI Visakhapatnam Zonal Unit, uncovered a network of fake businesses that existed only on paper. These companies did not conduct any legitimate business activities but were utilised as vehicles for issuing false invoices and claiming unearned tax credits.
Following search operations in Andhra Pradesh, Karnataka and Tamil Nadu, the authorities acted swiftly, and arrested the accused, under Section 69 of CGST Act-2017. After taking a transit remand, the accused was brought to Visakhapatnam and produced before the Special Judge Economic Offences Court, Visakhapatnam. The court has remanded the person to judicial custody for 14 days. Further investigation in the case in under progress.
