Delhi: Two arrested in multi-crore GST, VAT fraud involving dummy firms, fund layering
GST
Dated:- 16-5-2026
PTI
New Delhi, May 16 (PTI) Two persons including a chartered accountant have been arrested by the Economic Offences Wing (EOW) in connection with GST and VAT irregularities running into several crores, and involving alleged misuse of business credentials, dummy firms and layering of funds by routing them through multiple bank accounts, an official said on Saturday.
The accused have been identified as Rajeev Kumar Parasar and chartered accountant Atul Gupta, associated with an accountancy firm in Chandni Chowk, EOW said in a statement.
According to the EOW, an FIR in this matter was registered under various charge
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onding genuine business activity.
The probe further revealed that dummy firms and accounts were allegedly operated with the assistance of Atul Gupta and one Prakash Gupta, who has since died.
Investigators also found that GST returns and statutory compliances of the suspected firms were allegedly filed through the firm, police said.
According to investigators, the accused, along with their associates, allegedly misused GST/VAT credentials and opened or operated bank accounts in the names of dummy proprietors to route and layer huge sums through multiple firms and beneficiary accounts.
“The funds were transferred rapidly across accounts or withdrawn in cash to conceal the identities of actual beneficiaries and obscure the fin
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