Major international fraud unearthed; 1 arrested; cops on look out for 5 others

Major international fraud unearthed; 1 arrested; cops on look out for 5 others

Mangalore Today News Network

Mangalore, Feb 6, 2013: Pandeshwar police have arrested one Shameer Bashyar  of Ullal in connection with a major fraud reported in a  firm manufacturing and exporting marine products.

The arrest followed a complaint lodged by the company against one of its employees on the charges of fraudulent transactions amounting to Rs 3.3 crores. It has been gathered that the arrested Shameer was an accomplice of Mohammad Eshan who worked as a quality control executive in the firm.

Sources said the arrested Bashyar along with six others including Eshan through their activities inflicted huge losses on the firm.

 

Reports also said that the police had received tip off that huge sums of international remittances had been received in bank accounts some time back and that Bashyar was leading a lavish life and had even set up a company in Singapore All the accused, reportedly led a lavish life and travelled abroad by flights frequently.

It is said Bashyar used to create fake email accounts and   enter into an understanding with fish importers on his own thereby incurring losses to his company.

The police are trying to find the role of a Korean national who was known to the accused. The Pandeshwar police have registered a case. The police have reportedly found that a sum of Rs 3.33 crore was credited to Bashyar’s account from Korea.

Police have seized two Innova cars, a Nissan car, and a bike from the arrested who worked with the marine firm since nine years.