Bengaluru man arrested by ED for obtaining fraudulent refunds:

Bengaluru man arrested by ED for obtaining fraudulent refunds The Enforcement Directorate announced on Wednesday that it had arrested a man from Bengaluru under anti-money laundering laws for allegedly altering Income Tax Returns in order to get bogus refunds. The accused identified as Dilip B R and he was arrested on November 18 and sentenced to seven days in ED prison under the Prevention of Money Laundering Act, according to a statement from the federal agency. "There was one of the key fraudulent tactics used by Dilip B R was the manipulation of ITRs in order to obtain access to non-genuine refunds," the Enforcement Director's office claimed. According to the investigation, the accused exploited loopholes in the 'Kaveri' and 'Jamabandi' portals of the Karnataka and Haryana state governments to collect data on non-resident taxpayers who sold property in India with high TDS deductions. "Aadhaar and PAN data from property records used in this fraud, he forged documents to open bank accounts in the names of his targets, specifically choosing banks with minimal KYC requirements," according to the Enforcement Directorate. The accused then accessed the e-filing portal of the Income Tax Department through these accounts, revised the ITRs to reduce tax liabilities and increased refund amounts, it alleged. Finally, he used "fraudulent" accounts to transfer the refunds to bank accounts under his control, the agency claimed. Dilip B R allegedly laundered more than Rs.10 crore in criminal earnings into gold, jewellery, cash, and cryptocurrency investments, according to preliminary investigation findings. The ED claims that this person is a "habitual offender" who has committed numerous crimes, including identity theft and bank loan fraud. According to the agency, he assumed several identities and obtained several PANs under several names, including Dilip B R alias Dilip Rajegowda alias Dilip Balaganchi Rajegowda. It claimed that he defrauded a number of banks by getting loans for vehicles under false pretenses.