NEWS

Company Boss Reveals How A Group Conned His Business

A Labasa company’s boss yesterday revealed his business was allegedly swindled by a crime syndicate. RoadTech Tyre Company Lim­ited managing director Vinay Chand made the disclosure as more information continues
18 Dec 2018 10:14
Company Boss Reveals How A Group Conned His Business

A Labasa company’s boss yesterday revealed his business was allegedly swindled by a crime syndicate.

RoadTech Tyre Company Lim­ited managing director Vinay Chand made the disclosure as more information continues to emerge regarding the crime syndi­cate’s alleged cheque fraud racket affecting up to 10 local companies and some banks.

Mr Chand said his company was allegedly conned for items valued at $60,000 last month by a fake company, Nadro Tyres Supplies PTE Ltd.

He said he had lodged com­plaint at Valelevu Police Station and with Australia and New Zealand Banking Group Limited (ANZ) fraud department and was still waiting for the outcome of in­vestigations.

Mr Chand, who operates three branches in Labasa, Suva and Nadi, said he felt insecure as a Fi­jian citizen and a businessman.

“On November 2, my Suva branch manager said Nadro Tyres Com­pany wanted items worth $60,000 and will send a bank cheque,” Mr Chand said.

“I refused and suggested to my manager to get payment. He said the company responded saying that they will send the remittance to ANZ.

“Then I asked ANZ to transfer to BSP since I have my account there.

I called BSP to ask by when I will I get the money transferred from ANZ then they advised by Novem­ber 6.

The remittance that the compa­ny made showed clearly the ANZ logo, email and official domain and other details.

Hence, I believed that it was a true document.

“When I checked on November 8 after Diwali I found out that ANZ Bank didn’t transfer my money to BSP then I realised there was a scam.

“My manager and I then reported the case to Valelevu Police Station and the officers said they were busy with the elections. How can all officers be involved in the elec­tion and fail to fully attend the fraud matter that I reported?”

“Last eight to 10 days my Nadi branch manager called to inform me that Police have raided a yard in Nadi. Police found some mate­rials from my company and other companies in the yard. Someone was selling tyres at $250 each. The price of a certain particular tyre in the market is $450.”

He called on Police to take these fraud cases seriously.

“My cash flow is affected but I will slowly and surely recover. I have been a businessman since 1994 and this is the first time I have been cheated.”

Police Commissioner Brigadier-General Sitiveni Qiliho said he sympathised with Mr Chand. But he said this was not a straight-forward investigation. He said they could not rush it because they wanted evidence that would support prosecution. He said Mr Chand’s company was not only one affected by this racket. There were others with much bigger amounts involved.

The spokesperson for ANZ, Victoria Kanevsky, said the bank would investigate any reports of fraud­ulent activity and continued to monitor and adapt to the external environment and changing nature of fraud, scams and fraudulent at­tacks.

She said a payment receipt con­taining a transaction where a payment of $23,200 was made on behalf of Nadro Tyre Supplies Pte Ltd to Roadtech Tyre Company Ltd “is not genuine and did not come from ANZ.”

She added ANZ used ANZ Falcon which is a world-class fraud moni­toring tool. Edited by Naisa Koroi

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