E-Paper
Ludhiana: Local firm employees booked fraudulent export worth $1 million
The accused, identified as Naveen Kumar of Sector 32, Chandigarh road, and Sachin Kumar Sharma of Delhi, allegedly received the transferred funds from the company and sent a shipment containing empty boxes instead of the promised metal
Two employees of a local firm have been booked for allegedly duping their employer, TRBEX Impex Private Limited, of over US $1 million through an elaborate scheme involving the export of nonferrous metal from Bamako, Mali, Africa, to Togo and Dubai.
The accused, identified as Naveen Kumar of Sector 32, Chandigarh road, and Sachin Kumar Sharma of Delhi, allegedly received the transferred funds from the company and sent a shipment containing empty boxes instead of the promised metal.
When the incident came to light, TRBEX Impex Private Limited general manager Kuldeep Singh lodged a complaint with the Sahnewal police.
In his statement, Kuldeep revealed that Naveen Kumar worked as an executive logistics employee at TRB Exports Private Limited in Ludhiana, while Sachin Kumar Sharma held a similar position at TRBEX Impex Private Limited in Delhi.
Both companies have common directors, and the TRB Group also operates associated companies in Dubai engaged in the import and export of nonferrous metals, all of which are managed by directors and employees from Ludhiana.
Kuldeep said Naveen Kumar was sent to Bamako, Africa, in August-September 2022 with the purpose of procuring nonferrous metal for the company. He convinced TRBEX Impex Private Limited’s management that exporting this particular metal would be highly profitable.
In consortium with Sachin Kumar Sharma, the accused received a sum of US $1,003,065 from the company. Subsequently, Naveen claimed that the shipment had been dispatched to Togo in West Africa, as well as to Dubai.
However, upon inspection, authorities discovered empty boxes instead of the expected metal. When questioned, Naveen failed to provide a satisfactory explanation.
Besides, the complainant alleged that both Naveen and Sachin had established their own business and cheated TRBEX Impex Private Limited in the process. The matter was reported to the city police on April 19, resulting in an inquiry being initiated.
Following a thorough investigation conducted by a senior police official, the Sahnewal police filed an FIR under Sections 420 (cheating), 406 (punishment for criminal breach of trust), and 120-B (criminal conspiracy) of the Indian Penal Code.
