Bengaluru: DGGI uncovers Rs 3,200 cr GST fraud, two held
Bengaluru, Jan 29 (PTI): The Directorate General of GST Intelligence (DGGI) in Bengaluru has uncovered a massive GST fraud amounting to Rs 3,200 crore and arrested two people in connection with the case.
A third suspect remains at large, Sucheta Sreejesh, Additional Director General of DGGI Bengaluru zone, said in a statement.
The DGGI’s Bengaluru zonal unit conducted searches at more than 30 locations across Bengaluru and Mumbai, uncovering a complex scam.
The accused created bogus companies with no legitimate business operations, engaged in circular trading to inflate turnover, listed these companies on stock exchanges, and facilitated the fraudulent availing and passing of fake Input Tax Credit totaling Rs 665 crore.
“The total value of fake invoices involved in the scam amounts to over Rs 3,200 crore,” she said.
The investigation uncovered 15 dubious companies with no actual business activity. These firms reported receiving FMCG goods worth hundreds of crores, but only issued invoices for services like IT support, management consultancy, and advertising.
Despite a large number of inward e-way bills, none of the companies had any outward e-way bills. Nine of these companies are even listed on Indian stock exchanges, according to officials.
“Investigation indicates that promoters of such dubious companies resorted to circular trading of fake invoices to inflate turnover, increase the share price, sell the shares subsequently and exit the company, duping common public of their money invested in shares of such companies,” the statement said.
The probe also revealed that GST returns for most of these companies were filed from common IP addresses, suggesting that they were all operated by the same accused.
Further searches at the companies' premises uncovered original documents such as invoices and financial records, stored across several locations, indicating that the same individuals were managing the affairs of multiple companies.
“Considering the magnitude of the fraud and its impact on the common public, the Directorate General of GST Intelligence, Bengaluru Zonal Unit has initiated thorough investigation in the matter,” Sreejesh said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Former South Korean President Yoon receives life sentence for imposing martial law
Seoul (AP): Former President Yoon Suk Yeol was sentenced to life in prison for his brief imposition of martial law in December 2024.
Judge Jee Kui-youn said he found Yoon guilty of rebellion for mobilizing military and police forces in an illegal attempt to seize the liberal-led National Assembly, arrest politicians and establish unchecked power for a “considerable” time.
Yoon is likely to appeal the verdict.
A special prosecutor had demanded the death penalty for Yoon, saying his actions posed a threat to the country's democracy and deserved the most serious punishment available, but most analysts expect a life sentence since the poorly-planned power grab did not result in casualties.
ALSO READ: IIT-Madras to establish applied AI innovation centre in Dubai
South Korea has not executed a death row inmate since 1997, in what is widely seen as a de facto moratorium on capital punishment amid calls for its abolition.
As Yoon arrived in court, hundreds of police officers watched closely as Yoon supporters rallied outside a judicial complex, their cries rising as the prison bus transporting him drove past. Yoon's critics gathered nearby, demanding the death penalty.
The court also convicted and sentenced several former military and police officials involved in enforcing Yoon's martial law decree, including ex-Defense Minister Kim Yong Hyun, who received a 30-year jail term for his central role in planning the measure and mobilizing the military.
Yoon, a staunch conservative, has defended his martial law decree as necessary to stop liberals, whom he described as “anti-state” forces, from obstructing his agenda with their legislative majority.
The decree lasted about six hours before being lifted after a quorum of lawmakers managed to break through a military blockade and unanimously voted to lift the measure.
Yoon was suspended from office on December 14, 2024, after being impeached by lawmakers and was formally removed by the Constitutional Court in April 2025. He has been under arrest since last July while facing multiple criminal trials, with the rebellion charge carrying the most severe punishment.
Last month, Yoon was sentenced to five years in prison for resisting arrest, fabricating the martial law proclamation and sidestepping a legally mandated full Cabinet meeting before declaring the measure.
The Seoul Central Court has also convicted two of Yoon's Cabinet members in other cases. That includes Prime Minister Han Duck-soo, who received a 23-year prison sentence for attempting to legitimize the decree by forcing it through a Cabinet Council meeting, falsifying records and lying under oath. Han has appealed the verdict.
