Hyderabad businessman arrested in Rs 100 cr luxury car import scam
In a major crackdown on financial fraud, a prominent Hyderabad-based businessman has been arrested for his alleged involvement in a ₹100 crore luxury car import scam. The Directorate of Revenue Intelligence (DRI) and Enforcement Directorate (ED) jointly carried out the operation after months of surveillance and investigation.
According to officials, the businessman—identified as Imran Sheikh—was running a sophisticated racket involving the import of luxury vehicles such as Lamborghinis, Ferraris, and Bentleys through forged documents. These vehicles were brought in under fake diplomatic exemptions, thereby evading customs duties worth crores.
The scam reportedly involved the misuse of the Transfer of Residence facility and manipulation of documents from foreign embassies. Once imported at a fraction of the actual tax cost, the cars were sold to high-profile clients across India, generating massive black money.
Sources revealed that nearly 40 high-end vehicles were traced to this illegal network. Several of them were found registered in fake names or without proper road clearance. Authorities have begun seizing these vehicles from Delhi, Mumbai, Bengaluru, and Hyderabad.
Investigators believe the operation had been running for over four years, with Imran allegedly collaborating with foreign agents and corrupt customs officials. Fake invoices and undervaluation of car prices were key to the fraudulent scheme.
The ED is now tracking the financial trail to uncover potential money laundering links and foreign account transactions. Bank accounts associated with the accused have been frozen, and several luxury cars were impounded from his residence and showroom in Banjara Hills.
This is one of the largest car import scams to surface in recent years, and more arrests are expected in the coming days as the probe widens.
A senior DRI officer stated, “This is not just about tax evasion, but about national security and the integrity of our customs system being compromised.”
The businessman has been remanded to judicial custody for 14 days, while a special task force continues to interrogate his associates and retrieve digital evidence from his company servers.
Authorities are urging citizens who have recently purchased imported cars to verify their registration details, as more fraudulent sales are likely tied to this network.
