42 locations have been raided by the Income Tax department in search-and-seizure operation. The target is a large network of people who are running data entry jobs scam.
The network accumulated a huge amount of cash through fake billing.
Several shell entities and firms were used for covering up unaccounted money and fake bills and unsecured loans were issued to convert black money to legal money.
In addition, jewelry worth over Rs 5 crore has also been seized.
Premises in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa are being raided.
The officials say, “The search has led to seizure of evidence exposing the entire network of the entry operators, intermediaries, cash handlers, the beneficiaries and the firms and companies involved. So far, documents evidencing accommodation entries of more than Rs 500 crore have already been found and seized.”
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The trail of the money has been validated in its entirety by the department. Statements of entry operators, their dummy partners, employees, cash handlers as well as the covered beneficiaries have been recorded.
The officials added, “The people who were searched were also found to be the controller and beneficial owners of several bank accounts and lockers, opened in names of their family members and trusted employees and shell entities, which they were managing in collusion with the bank officials, through the digital media. The same are being further investigated.”
In addition, real estate in prime cities, and bank fixed deposits have also been used by the network, both to the tune of hundred crore of rupees.