NEW DELHI: A 67-year-old Singapore citizen, Mukesh Gupta, was arrested in connection with a Rs 10 crore international fraud involving the supply of timber from New Zealand to India, police said on Wednesday. Gupta, an OCI (Overseas Citizen of India) cardholder, was accused of duping M/s Chaudhary Timber Industries Pvt. Ltd. (CTIPL).
The case was registered in July 2022 following CTIPL’s complaint, which stated that Gupta, representing M/s Amrose Singapore Pte. Ltd., had entered into an agreement to supply timber.
However, forged Bills of Lading and fake shipping documents were submitted to the bank, leading to the release of Rs 10 crore, despite no shipment taking place.
According to Additional CP (EOW) Amrutha Guguloth, investigations confirmed the BLs were fake through verification with the ship owner, agent, and insurer. Gupta had evaded questioning citing medical issues but was finally arrested on April 22. He was found to have fabricated documents and misused company names and seals to fraudulently secure payments against Letters of Credit.