Five arrested for cheating firm of Rs 32 lakh

Ghaziabad: Five people have been arrested in Ghaziabad for allegedly cheating a company of Rs 32 lakh by making fraudulent transactions, the police said on Tuesday.
The case came to the fore when an official from India Transact Service Limited (ITSL) approached the police on June 13. The ITSL is a digital payment solution that offers a platform for routing commercial and retail payments between buyers and sellers across the country.
“A total of 16 people have been named in the complaint, including the kingpin, Momin Khan, who had got a PoS machine from the company in January for business purposes but misused it. The accused would make transactions in the name of ITSL using the machine but divert the funds to their firm – MK Enterprise. He used forged documents, including credit cards, to make the transactions,” the complainant told the police.
The official explained that after this, the accused would inform the concerned bank, saying that transactions could not be made due to technical default. Next, the bank would return the money to the accused. The accused have been identified as Amjad Alvi, Rahul Kumar, Ravi Kumar, Feroze and Momin Khan.