Contractor Duped of Rs. 1.3 Crores by Fake Chartered Accountant



Quick Summary
A Mumbai contractor has been defrauded of a staggering £1.3 million by an individual posing as a Chartered Accountant. The contractor sought help with GST registration for his business, only to discover months later that his GST number had been used for illegal activities, resulting in a massive penalty. The imposter has since disappeared, and police are now investigating the elaborate scam.

A 35-year-old contractor and Colaba resident, Jaykumar Shah Dhani, was allegedly defrauded by a supposed Chartered Accountant to the tune of Rs. 1.3 crores. Dhani, who has been taking on contractual work for the Brihanmumbai Municipal Corporation (BMC) since 2018, fell victim to this scam while seeking assistance with GST registration for his business.

The Scheme Unveiled

Jaykumar and his brother Dipak Dhani were in the process of starting their own company and needed to register it with the GST department. A friend introduced Jaykumar to Aftab Memon, who claimed to be a Chartered Accountant. Memon requested essential documents, including Jaykumar's PAN Card, electricity bill, and ration card, which Jaykumar submitted at Memon’s office in Masjid. Additionally, Memon asked for OTPs and an advance payment of Rs. 1,500 for the GST registration process. After some months, Jaykumar received a GST registration certificate from Memon and paid an additional Rs. 3,000 as a pending amount.

Contractor Loses £1.3m to Fake Chartered Accountant

The Discovery of Fraud

In April 2023, while visiting his hometown in Karnataka, Jaykumar received a summon notice from the GST department at his Colaba residence. On visiting the GST headquarters, he was informed that his GST number was associated with a different email ID and phone number and had been used for illegal activities. Consequently, Jaykumar was faced with a Rs. 1.3 crore penalty.

The Search for Justice

Jaykumar tried to contact Memon, but he had vanished. During his search, Jaykumar met Memon’s father, Fateh Mohammad, who revealed that his son was not a Chartered Accountant and had duped multiple people using similar methods. Despite several attempts to contact Memon and intimidate him for answers, Jaykumar received no concrete information regarding the transactions made using his GST number.

Police Investigation

The Colaba police have initiated an investigation into the matter. Jaykumar hopes that the authorities will bring Memon to justice and recover the siphoned funds.

Key Takeaways

This incident underscores the importance of verifying the credentials of professionals before handing over sensitive information. It also highlights the necessity for vigilance in monitoring financial transactions and official communications to prevent fraud.

FAQ :

The contractor was defrauded of Rs. 1.3 crores, which is approximately £1.3 million.

The contractor was seeking assistance with GST registration for his business.

The contractor discovered the fraud when he received a summon notice from the GST department, indicating his GST number was linked to illegal activities and a large penalty.

The fraud was perpetrated by Aftab Memon, who falsely claimed to be a Chartered Accountant.

The Colaba police have initiated an investigation into the matter, and the contractor hopes for justice and the recovery of the funds.

The incident highlights the importance of verifying professionals' credentials and remaining vigilant about monitoring financial transactions and official communications.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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