Jaipur CA Under Scanner: Over 23 Billion Rupees Allegedly Funneled Abroad via Fraudulent Certificates

Jaipur. A major financial investigation has been launched in Jaipur following allegations that a chartered accountant facilitated the illegal transfer of more than 23.95 billion rupees to foreign accounts. The Income Tax Department’s Foreign Assets Investigation Unit initiated the probe, leading to the registration of a formal police complaint at the Patrakar Colony police station against the professional, identified as Abhishek Jain.

According to the official complaint filed by Deputy Director Mintulal Meena, the suspect allegedly issued thousands of fraudulent certificates to bypass regulatory scrutiny. The investigation focuses on the financial years 2021-22, 2022-23, and 2023-24, during which time 3,168 Form 15CB certificates were reportedly issued without the mandatory verification of client documents, tax residency status, or the legitimacy of the transactions.

The authorities discovered that these funds were routed through approximately 40 different entities and individuals. Many of these parties had negligible business operations or reported income, yet they were involved in moving massive sums of money overseas. Investigators suspect that these shell entities were created specifically to mask the origin and destination of the capital, potentially causing significant harm to the nation's foreign exchange reserves.

The Income Tax Department conducted a search operation at the accountant's Mansarovar office on August 18, which uncovered the scale of the alleged irregularities. Officials are now working to identify the ultimate beneficiaries of these transfers and determine the extent of the involvement of other intermediaries who may have assisted in the scheme.

Local police have confirmed that they are actively pursuing the case based on the evidence provided by the tax department. DCP South, Rajarshi Raj, stated that the investigation is currently in a critical phase, with authorities examining the roles of all individuals linked to the fraudulent certificates. As the probe continues, officials expect to uncover further details regarding the network behind these illicit financial activities.