Surat: Enforcement Directorate (ED) and Directorate of Revenue Intelligence (DRI) Surat unit today conducted a joint search operation in the Surat Special Economic Zone (Surat SEZ) adjacent to Sachin GIDC, in the preliminary phase of 1000 crore hawala scam (SCAM). ) has accelerated. In this scam, search operation is going on in three companies of Surat SEZ since morning. Diamonds and gold worth Rs 10 crore, cash worth Rs 25 lakh have been seized during the search at Sagar Diamond, Sagar Enterprise and RHC Global Export Limited of Surat SEZ.
Sources in ED and DRI said that preliminary details have been received that a hawala scam of Rs. A huge hawala scam has been done by importing natural rubies duty free and bringing them in synthetic rubies in the name of value addition and billing them as natural rubies valuation work. Three companies are involved in the hawala scandal of approximately Rs 1,000 crore. ED has also seized cash and jewelery during the search.
Along with ED, DRI, State GST team also joined the investigation at night
Today, after the ED’s investigation, the DRI Surat unit also conducted an investigation and the State GST team was also included in the search at night. SGST department has been roped in to investigate how synthetic ruby stones got into SEZ and who made bills out of SEZ, following suspicions that the bills are bogus. Instead of natural ruby stone and its products, rupees were sent through hawala under the guise of sending inferior stones abroad. Delhi ED officials also joined the investigation based on input, ED and DRI suspect that big hawala kingpins from Surat and Mumbai are involved behind the scenes in this scam. Officials are saying that the owner of the three companies is Vaibhav Shah.
ED search at 14 places in Surat, Ahmedabad, Mumbai, Vaibhav Shah of Surat, Chief Magistrate
Enforcement Directorate officials said that the ED team is investigating in Surat, Ahmedabad and Mumbai in Gujarat. The mastermind of this overvaluation and hawala scam is an industrialist named Vaibhav Deepak Shah, director of Surat-based BSE listed company Sagar Diamond Limited and RHC Global Export. The ED is investigating 14 different locations of the company, including Surat, Ahmedabad and Mumbai. ED’s search for Vaibhav Shah and his associates is also going on. Some Chinese businessmen are also involved in this scam. Search underway in Ahmedabad, Surat and Mumbai as part of Power Bank application fraud case Enforcement Directorate (ED) is conducting search in Surat’s BSE listed company Sagar Diamond Limited. The ED has conducted search operations at 14 different locations including the company’s office and other locations.
Import of natural precious stone from Hong Kong on paper showing synthetic stone order.
ED sources said that the companies Sagar Diamond, Sagar Enterprise and RHC Global located in Surat SEZ were first investigated by the ED and then the accused were questioned by the DRI. In this case, the import of natural precious stones from Hong Kong was shown on paper but in reality only low quality synthetic stones were being imported. The document showed genuine ruby stone or precious stone but actually called for artificial synthetic stone. In the name of value addition, pendants were made and exported at a higher price. An original ruby on paper costs many times more than a synthetic ruby. Payment for import goods was made to Hong Kong. Later, the ruby stone pendant made was sent abroad.
ED arrests all Khel Hawalas, 3 including Vaibhav Shah
Sitting in Surat SEZ, Vaibhav Deepak Shah and his cronies were operating the Hawala game for a long time, if anyone wanted to send money from abroad, they resorted to this business. Synthetic rubies were imported but payments were shown as original rubies. Therefore, the payment of those who wanted to send foreign rupees was sent abroad in the name of the original ruby pendant. In this case, ED arrested 3 including Vaibhav Shah in the evening. The accused will be produced in court tomorrow. Under the power bank application fraud case, the Enforcement Directorate (ED) came under the radar of Surat-based BSE listed company Sagar Diamond Limited.
1000 crore stock record found, Chinese operator also involved in charge
ED sources said that in this scam a stock record of 1000 crores was found, the Chinese operator is also found to be involved in the charge. ED caught this scam while investigating the Chinese Control Money Laundering App and Power Bank Mobile App.