Mumbai: Based on specific intelligence that a syndicate was fraudulently availing drawback and RoSCTL benefit by exporting misdeclared and highly overvalued garments to various African countries by using several dummy IECs from ICD Talegaon (Pune), officers of DRI intercepted two such live consignments.
DRI uncovers bogus IEC export scam
Examination of the said consignment revealed that misdeclared and inferior quality goods were being exported at grossly inflated values. Simultaneous searches were conducted at eight premises in Mumbai. Preliminary investigations revealed that 14 IECs, identified so far, were issued in the names of fictitious individuals and were non-existent/bogus.
All export documentation and invoices were prepared by a Mumbai-based mastermind. Crucial digital evidence, including fake invoices, were recovered during searches. In his voluntary statement, the mastermind admitted that the syndicate procured low-quality goods from local markets in Mumbai, Kolkata, and other cities without invoices or e-way bills, and exported them by overvaluing to the extent of five to six times their actual value. Using this modus operandi, they fraudulently availed drawback benefits of approximately Rs 18.74 crore and RoSCTL benefits of approximately Rs 96 crore.
The mastermind, who has orchestrated the whole scheme, was arrested along with the customs broker, who was a complicit in the fraud and received commission for processing such exports. Further investigation is under progress.
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