Mumbai EOW files a case of multi-crore fraud in international shipping transactions

After a preliminary investigation into claims made by a shipping and logistics operator in Mumbai, the Economic Offences Wing (EOW) of the Mumbai Police filed a multi-crore cheating and criminal breach of trust case. The case involves an alleged fraud of ₹18.33 crore and involves both Indian and foreign jurisdictions.

Shipping firms such as ALX Shipping, a division of Allcargo Logistics, and senior executives of Aladdin Express DMCC, a Dubai-based company with a significant stake in Hutchison Ports, were the targets of the FIR. 

Vishal Mehta of Rushabh Sealink and Logistics filed the complaint, claiming that the accused were fully aware of significant unpaid balances owed to port authorities for vessel-related payments. Despite this, they are accused of obtaining substantial payments from the complainant under the guise of operational needs and then using the money for unapproved uses. 

The accused allegedly issued fraudulent container release orders, misrepresented vessel clearances, and enticed the complainant with promises of higher profit margins. A reported loss of 18.33 crore resulted from a number of business agreements that were signed in order to establish credibility but were later broken.

Sandeep Bakshi, Vikas Khan, and Ali Khan are among the company officials named in the FIR. The case was registered at the Ghatkopar Police Station under BNS sections 316(2), 316(5), 318(4), and 61(2) prior to its transfer to the EOW.

In order to ascertain whether the diverted funds were sent abroad, the agency is currently following the financial trail. According to officials, the investigation is likely to grow and may involve more people or organisations due to the involvement of foreign companies.

As more transactions are examined, the alleged fraud amount may increase, and as the investigation progresses, the involvement of officials connected to other corporate entities may also be investigated.