Maha: Export firm director held for duping bizman from Malaysia of Rs 1 cr

Navi Mumbai Police arrested a director of an export company for allegedly cheating a businessman of Rs 1 crore by issuing a fake export order for supplying sugar, police said on Wednesday. Police said the company promised to supply sugar to the businessman based in Malaysia and forwarded him a fake export release order in the name of a sugar factory from Kolhapur district of Maharashtra.

Navi Mumbai Police arrested a director of an export company for allegedly cheating a businessman of Rs 1 crore by issuing a fake export order for supplying sugar, police said on Wednesday. Police had registered an FIR on the charge of cheating against three directors of an export company based in Coimbatore in Tamil Nadu, an official said. Police said the company promised to supply sugar to the businessman based in Malaysia and forwarded him a fake export release order in the name of a sugar factory from Kolhapur district of Maharashtra. After forwarding the fake documents through email, the accused director received the payment of USD 1,39,590 (Rs 1,09,13,285) from the businessman but never supplied sugar. The accused was produced before a court in Navi Mumbai on Tuesday which remanded him in police custody till May 2, the police official said.

Further investigation into the alleged fraud is underway.