Multi-State fraud network of VPVV Techno under scrutiny after FBI tip

Cheated investors of Delhi-headquartered VPVV Techno Construction Pvt. Ltd has filed complaint to Delhi Police Commissioner to probe against the company for creating fake contracts with the United States Government. The fraud by the VPVV and its promoters was tipped off to Indian agencies by FBI. The FBI found that the Nagpur-registered company has printed “Q Clearance Bag”, which is signed by US President from a printing Press in East Delhi area, along with many US documents. Kerala Police has identified Delhi-based businessmen Vijay Kasa and Venkita Venkat in fooling investors and printing fake US documents.

The Nagpur registered company VPVV Techno is working in many States and has allegedly duped over Rs 700 crores from investors by showing fake US contracts to export weapons to Federal Army and Navy.

They even created fake documents about Indo-US trade agreement and US President’s orders on weapon exports from India.

Kerala Police had recently registered four FIRs and arrested around 22 persons from Nagpur and Delhi, including Vasant Vihar head-quartered company’s promoters Venkita Venkat, Aqeel Ahammed and Rajan Malik. Recently, few accused got bail from Kerala High Court and another absconding promoter, Hitesh Kumar known as `Doctor Sahib,’ is facing a new case for using fake identity documents to get anticipatory bail from the High Court.

According to Kerala Police, the promoters created fake Indo-Pacific trade deal Indo - US trade deal worth Rs 83,000 crore and “Q Clearance Bag”, which is signed by US President from a printing Press in East Delhi. The cheated investors have alleged that the promoters who got bail recently conducted a Press conference in Delhi on June 5 and claimed that Delhi Police Commissioner has given them clean chit. Meanwhile, cheated investors said that they will approach Kerala High Court seeking CBI probe.

“During the Press conference, the above persons (promoters Venkat, Aqueel and Malik) stated that the Delhi Police Commissioner had given a clean chit to the company and that the allegations raised by victims and complainants were false. Such statements appear to be completely untrue, misleading, and calculated to create a false impression among investors and members of the public that the company has been officially exonerated by law enforcement authorities,” alleged some investors who were cheated for more than Rs 700 crore in investing in a shell firm, VPVV Techno Construction.

“The materials available disclose allegations of a serious and organised fraud affecting a large number of investors across multiple States, involving the alleged misuse of the National Emblem of India, unauthorised use of symbols and insignia associated with Governmental authorities, and representations relating to defence and strategic projects purportedly connected with foreign Governments,” said another investor in a detailed nine page complaint showing the fake claims of promoters photos with many Union Ministers and US Navy submarine training by the promoters.

The company’s other directors Hitesh Kumar, known as Doctor Sahib and Rahul Rajeev Nair, Rajan Pradeep, Kumar Prabhakaran and Vinod Rama Warrier. Kumar is also in the police radar for cheating several investors by printing fake US documents.

The company promoters claimed that US Government has approved them as “principal developer’ of defence equipment to be manufactured from India and exported to US. These directors have created a web of more than 15 benami companies, mostly registered in Nagpur, said Police, adding that these companies are operating in Jaypee Vasant Continental Hotel in Delhi.