In yet another instance of white-collar fraud, a chartered accountant and his associates have been booked for allegedly duping a company CEO of ₹15 lakh under the pretext of arranging a bank guarantee for a railway project. Acting on court orders, Beta-2 police have registered an FIR and initiated an investigation into the case.
The complainant, Praveen Kumar, CEO of Tangent Infratech Pvt. Ltd., who resides at ATS Green Paradiso Apartments in Sector Chi-4, Greater Noida, stated that his firm was working on a railway project that required a bank guarantee. To secure one, he approached his relationship manager, Furqan, at ICICI Bank’s Sector 18 branch in Noida.
Furqan introduced him to chartered accountant Brajesh Pandey, who claimed to have strong links with several banks and corporate entities. According to the complaint, Pandey and his firm, CMC Services IMS Pvt. Ltd., based in Sector 62, Noida, issued a forged bank guarantee of ₹1.29 crore purportedly from the Bank of Baroda’s Bijasan branch in Madhya Pradesh. In return, the accused allegedly took ₹15.34 lakh as a “financial consultancy fee.”
The fraud came to light when the Railway Department sought verification of the guarantee from the Bank of Baroda, which denied issuing any such document. Realising he had been duped, Praveen Kumar tried contacting Pandey and his associates, but none of them responded.
“The accused misused their professional credentials to fabricate documents and cheat the complainant,” the FIR states. The complaint further notes that the fake guarantee carried forged seals and reference numbers, making it appear authentic.
Station House Officer (SHO) of Beta-2 police station confirmed that the case had been registered and an inquiry was underway. “We are investigating all aspects of the fraud. The accused and others connected with the case will be questioned soon,” he said.
Police officials said preliminary findings indicate that the accused may have used similar tactics to deceive other clients. The cyber and financial investigation units are examining money trails and communication records to uncover the full extent of the fraud.
Incidents of financial fraud involving fake guarantees and consultancy scams have been rising across Noida and Greater Noida in recent months. Authorities have urged business owners to verify all financial documents directly with banks before making large payments, particularly in project-linked deals.
