Home / Crime and Justice / Hyderabad: Rs 20 Cr Villa Seized in Massive GST Evasion Probe
Hyderabad: Rs 20 Cr Villa Seized in Massive GST Evasion Probe
4 Apr
Summary
- A Rs 20 crore villa linked to Wegofin director was provisionally attached.
- The probe targets a syndicate evading GST on online gaming services.
- Estimated GST evasion in the case has reached Rs 6,342 crore.
The Directorate General of GST Intelligence (DGGI) in Hyderabad has taken a significant step in a major online betting-linked GST evasion case by provisionally attaching a villa in Kokapet, estimated to be worth Rs 20 crore. The property is connected to YS Prabhu Kumar, a director at Wegofin Digital Solutions. This action stems from Prabhu Kumar's alleged role as a mastermind in a syndicate facilitating online gaming services while evading Goods and Services Tax.
The DGGI's investigation has uncovered a staggering Rs 6,342 crore in GST evasion. Officials have identified approximately 177 shell and dummy entities used to channel around Rs 23,000 crore. The probe is now scrutinizing the involvement of payment aggregators, gateways, and banks in transactions for an alleged international online gaming network.
Wegofin and its founders, including YS Prabhu Kumar and Vennapusa Rajasekhar Reddy, are central to the ongoing inquiry. Investigators contend that the company facilitated transactions for banned gaming applications. They allegedly used non-KYC-compliant accounts and fake invoices to obscure money trails and evade GST, highlighting a sophisticated method of financial subterfuge.
