Police have uncovered an organized fraud gang that had been targeting foreign companies by creating fake firms. Members of the gang, which had been active for nearly 12 years, have been arrested for the first time. Investigation has identified 57 bank accounts linked to the group, with suspicion that approximately ₹600 crore may have been cheated.
According to the crime branch, the gang studied basic details of foreign companies, including production capacity, business turnover, and operational scale, before creating fake websites and shell firms. After establishing contact, they would lure companies into large business deals and collect small amounts as token money in advance.
Investigators said that after the fraud, most foreign companies only lodged complaints through email. Since there were usually no representatives travelling to India to pursue legal action, the accused exploited this limitation for a long period.
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Fraud Case Traced to December 2025 Incident
The gang came under investigation following a fraud complaint involving a steel company from the Czech Republic. In December 2025, around ₹2 crore was allegedly cheated from the company. The firm sent a complaint email to the Police Commissioner’s office on January 13, 2026.
The case was assigned to the Deputy Commissioner of Police (West), after which the crime branch launched a detailed investigation. Preliminary findings revealed that a fake firm named Vardhman Industries was created in the Panki Upran State area to collect token money under the pretext of supplying steel products.
After receiving the money, the accused allegedly switched off their mobile phones and deleted all communication records, including emails and contact details.
Four Accused Arrested, Fake Documents Seized
During the investigation, the names of Jhansi resident Amit Om Prakash Sharma and Naubasta resident Akash Kumar surfaced. Both have been arrested and sent to jail. Police recovered several fake firm stamps, Aadhaar cards, PAN cards, and banking documents from their possession.
In another operation, Rohit Vijay Chanchad was arrested from a Kandivali apartment in Mumbai, along with Arvind Mahant Yadav from Pashupati Nagar, Naubasta. Both have also been sent to jail. Authorities said Arvind worked as an auto driver in Mumbai.
Police also found that about two lakh dollars were transferred into the bank account of Bihar resident Ramkumar Rai.
Gang Active Since 2014
Crime branch investigation revealed that Amit Sharma and Rohit Chanchad had been involved in such fraud activities since 2014. Police have traced 15 bank accounts linked to Amit and 42 accounts associated with Rohit.
It was also found that most of these accounts were operated by the accused themselves, while some accounts were opened in the names of other individuals.
The crime branch stated that bank details of 41 out of the 57 suspected accounts have been collected, while information regarding the remaining accounts is still awaited.
Foreign Companies Often Stopped After Filing Email Complaints
Police said the gang mainly targeted foreign companies. After being cheated, many companies limited their response to email complaints, without sending representatives to India for further legal action, which allowed the gang members to remain undetected for years.
Authorities are now conducting a comprehensive probe into the criminal network, and searches are underway for other suspected accounts and associates. Officials have indicated that more revelations are expected in this case.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
