ACB Nabs One In ’22 Gujarat Informatic Rs 40 Crore Fraud

Anand Soni of TT Jewellers was arrested by the Gujarat Anti-Corruption Bureau (ACB) on Wednesday for allegedly siphoning off more than Rs 40 crore from Gujarat Informatic Ltd. The ACB had initiated a case in 2022 under the Company Act 2013 and the Anti-Corruption Act. According to the ACB, two employees of the company, Ruchi Bhavsar and Vikrant Kansara, were involved in a conspiracy with the accused to transfer the funds to an unauthorized vendor company's account. The accused, Japan Shah and Rakesh Amin, allegedly forged signatures and initially deposited the money into the bank accounts of unauthorized vendors before redirecting it to other accounts.