ED arrests Jamshedpur trader Gyan Chand Jaiswal, son in multi-crore GST scam

The Directorate of Enforcement (ED) arrested a scrap dealer and his son from Jamshedpur in connection with an alleged multi-crore fake GST Input Tax Credit (ITC) scam. Investigators conducted searches across six locations in Jamshedpur, Adityapur-Gamharia, Deogarh, and Kolkata under the Prevention of Money Laundering Act. During the operation, authorities seized bank account details, purchase and sales invoices, GST returns, financial transaction documents, and electronic devices including computers, laptops, hard disks, and mobile phones.

According to reports, the investigation also targeted a chartered accountant whose office was searched, resulting in the seizure of audit papers, GST filing records, and balance sheets. Investigators alleged that fake invoices and fraudulent ITC claims were generated without any actual supply of goods through a network consisting of 37 shell companies.

Following their apprehension, the father and son were taken to a hospital for medical checks, where the older man created a commotion, claimed he was framed, and complained about high blood pressure and missing medication. The ED team subsequently transported both individuals to Ranchi, where a judge ordered them into judicial custody.

Not yet reported: The exact total monetary value of the fraud in rupees is not specified in the articles.