Jaipur: The city police Sunday arrested a man for allegedly cheating a textile trader of Rs 8.3 crore, accusing him of being part of an interstate syndicate that floated shell firms, built traders’ trust through prompt payments, procured goods on credit and fled to Dubai after diverting the merchandise.The accused has been identified as Pawan Chandak, a resident of Mathoda in Jodhpur.He was arrested by Jaipur police after being detained on his return from Dubai. Investigators are questioning him about the alleged diversion of textile goods, the money trail and the role of other members of the network.Varma said the case was registered at Muhana police station on March 28 this year on a complaint by a textile trader who alleged that Chandak posed as exporters and purchased cloth through two firms.According to Rajashi Raj Varma, DCP (South), the accused began buying textiles in April 2024 and made timely payments on initial consignments to establish credibility. Once traders were confident enough to extend substantial credit, the accused allegedly procured textile goods worth Rs 8.3 crore from the complainant alone before disappearing.“The fraud followed a well-rehearsed interstate template. A member of the syndicate would establish a new business, register firms and rent office space, while associates financed initial purchases to ensure prompt payments. After winning traders’ confidence, the group allegedly obtained goods on credit, secured business and cash-credit loans from multiple banks, diverted the merchandise through associates and sent the frontman abroad,” Varma said.Police suspect the network cheated multiple Jaipur traders of Rs 15-20 crore worth of textile goods and also obtained loans from seven banks before Chandak left for Dubai. Investigators alleged that after his departure, his wife and other associates sold the diverted goods in the market.Police said Chandak was tracked through technical surveillance after investigators confirmed he had left the country. He was detained immediately on his return from Dubai and later arrested.
