The Ludhiana police have registered a case against a local money changer accused of defrauding residents by allegedly overcharging for currency exchange and issuing fraudulent air tickets.
Information was available with The Chenab Times that the accused, identified as Amit Malhotra, a resident of Atam Nagar, operates a business named Amit Forex at Gill Chowk, offering currency exchange and air ticket booking services.
According to investigating officer ASI Harbhajan Singh, police received a tip-off on June 13 while patrolling Dholewal Chowk. The information suggested that Malhotra was illegally levying substantial amounts as government tax during currency exchanges, thereby causing significant financial loss to the government. He was also reportedly engaging in fraudulent practices related to air ticket bookings.
The allegations further state that Malhotra would book air tickets at lower prices and then sell them to customers at inflated rates. In some instances, he is accused of forging tickets and presenting them as genuine to unsuspecting clients, thereby generating substantial profits through deception. The police team, acting on the information, conducted a raid at Malhotra’s shop.
During the raid, a sum of Rs 4.70 lakh in Indian currency was recovered from the premises. However, the accused managed to evade arrest and escape from the scene before law enforcement officials could apprehend him. The investigation is ongoing as the police seek to apprehend Malhotra and gather further evidence related to the alleged fraudulent activities.
The case has drawn attention to the potential for financial fraud within the informal currency exchange and travel booking sectors. Authorities are urging the public to exercise caution and verify the legitimacy of service providers, especially those dealing with significant sums of money or travel arrangements. The recovered currency has been seized as part of the investigation. Further details are expected to emerge as the police intensify their efforts to locate and arrest the accused money changer.
The Chenab Times News Desk