Noida Chartered Accountant Accused of ₹15 Lakh Fraud Over Fake Railway Project Bank Guarantee

The Noida Police have booked a chartered accountant and his associates for allegedly cheating a company CEO of ₹15 lakh by issuing a forged bank guarantee for a railway project. The FIR was lodged at Beta-2 Police Station following a court order.

According to the complaint filed by Praveen Kumar, CEO of Tangent Infratech Pvt. Ltd., his firm required a bank guarantee for an ongoing railway project. He reached out to his relationship manager, Furqan, at ICICI Bank’s Sector 18, Noida branch, to help arrange the guarantee.

Forged Guarantee Worth ₹1.29 Crore

Furqan introduced Kumar to Brajesh Pandey, a chartered accountant who claimed to have connections with multiple banks. Pandey, through his company CMC Services IMS Pvt. Ltd., allegedly issued a fake bank guarantee worth ₹1.29 crore, purportedly from Bank of Baroda’s Bijasan branch in Madhya Pradesh.

In exchange, the accused charged ₹15.34 lakh as a “financial consultancy fee.” The fraud came to light when the Railway Department sought verification from Bank of Baroda, which confirmed that no such guarantee had been issued.

Complaint and Police Investigation

Realizing the fraud, Praveen Kumar attempted to contact Pandey and his associates, but they stopped responding. The FIR mentions that the forged documents carried fake seals, signatures, and reference numbers, making them appear genuine.

The Station House Officer (SHO) of Beta-2 Police Station confirmed the registration of the case and said an investigation is underway.

“We are examining all aspects of the fraud, including the financial trail. The accused will be questioned soon,” the SHO stated.

Initial findings suggest that Pandey and his firm may have used similar tactics in other consultancy scams. The cyber and financial investigation units are now tracing the money flow and related communications.

Caution for Businesses

Authorities have urged business owners and contractors to verify all financial guarantees directly with banks before transferring money, especially in project-related transactions.

This incident highlights the growing concern over professional frauds in the corporate and infrastructure sectors of Noida and Greater Noida.