“Our investigation has revealed that Sartaz and his son would buy the shell companies from the Kerala-based firm and then use them to transfer the money collected from the victims to the masterminds,” the cop added.
Cops recovered 40 SIM cards from the arrested duo which were linked to multiple bank accounts. Representation pic
Interrogation of the father-son duo arrested from Delhi on July 15 in connection with a loan app case prompted the Andheri GRP to forensically audit multiple bank accounts which has revealed transactions to the tune of Rs 150 crore. An officer privy to the investigation told mid-day that they recovered 40 SIM cards from the duo—fashion designer Mohammad Sartaj Aalam Yasin, 45, and his son Shoeb Iqbal Aalam, 25. “These 40 SIM cards were linked to multiple bank accounts. We studied the transaction details of these accounts and found records of money to the tune of a whopping Rs 150 crore,” said the officer.
The officer added that one of these accounts, which was used in the case they were probing wherein a 35-year-old was defrauded after taking out a loan from Rich Cash app, had made transactions of Rs 20 crore. “We were shocked to see the transaction details of that bank account,” the officer added. “Our investigation has revealed that Sartaz and his son would buy the shell companies from the Kerala-based firm and then use them to transfer the money collected from the victims to the masterminds,” the cop added.
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The Kerala-based firm, cops have found, is run by two senior citizens who have been served notices. “The henchmen of the firm would call people across India asking them to open digital companies and then selling the same to them in exchange for money,” he added. Probe into the shell companies further led the cops to a bank employee and two company secretaries from Pune. “We have arrested a bank employee named Pushkar Panse, 30, and two company secretaries—Goraksh Rakh, 30, and Rakesh Sundesha, 37,” said a cop.
The Andheri GRP officer added, “These three accused would make shell companies and then sell them to the Kerala-based firm.” Deputy Commissioner of Police Sandeep Bhajibhakhare said, “It is a very important case, so we have formed multiple teams of 15 personnel. Each personnel has been given a different responsibility.” “The deeper we delve into the case, more murkier details emerge,” Bhajibhakhare told mid-day.
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