Archive · 8 Jun 2025
Delhi Police Arrests in Two Separate Fraud Cases
In Delhi, two separate fraud cases led to arrests.
In one, a retired Army Colonel was tricked into a Forex investment scam, losing over 18 lakh rupees to online fraudsters.
In the other, an exporter, Angad Pal Singh, was arrested for a 30.47 crore rupee scam involving fake documents to get trade benefits.
He faked paperwork to get money he wasn't supposed to, which caused a big loss for the government.
Angad Pal Singh was arrested in a Rs 30.47 crore export incentive scam involving forged documents.
The scam involved fake Foreign Inward Remittance Certificates (FIRCs) submitted to ICICI Bank to fraudulently claim trade benefits.
Singh, along with family, created multiple bogus export firms using forged records to obtain Duty Credit Scrips.
Singh was arrested after deportation from the US in connection with another fraud case.
Separately, a Kerala fisherman was arrested for duping a retired Army Colonel of over Rs 18.80 lakh in a Forex investment scheme.
- Who
- Angad Pal Singh, Sreejith Rajendran (fisherman), along with others involved in the scams.
- What
- Arrests made in connection with a Rs 30.47 crore export incentive scam and an Rs 18.80 lakh Forex investment fraud.
- When
- The export incentive fraud took place between 2013 and 2015; The Forex fraud occurred from December 2023; The arrest for the export scam was on Monday, and the fisherman was arrested recently.
- Where
- Delhi, US (deportation), Kerala
- Why
- To fraudulently claim trade benefits and to obtain money through Forex investments.
- Export Scam Loss
- Rs 30.47 crore
- Forex Fraud Loss
- Rs 18.80 lakh
- Key Accused
- Angad Pal Singh, Sreejith Rajendran
- Export Scam Method
- Fake FIRCs
- Export Scam Scheme
- Foreign Trade Policy
- Forex Scam Method
- Forex Investments
- Bank Involved (Export Scam)
- ICICI Bank
Sources
Man held for Rs 30.47 cr trade benefit fraud using forged documents in Delhi: Police
Delhi exporter held for Rs 30 crore scam linked to trade benefit scheme
Delhi: Retired Army Colonel duped of Rs 18.8 lakh; Kerala fisherman part of racket lands in police net
