India, June 8 -- A 30-year-old man has been arrested for allegedly orchestrating a Rs.30.47 crore fraud by submitting forged remittance documents to avail export incentives under the Foreign Trade Policy, the Delhi Police's Economic Offences Wing (EOW) said on Saturday.

The accused, Angad Pal Singh also known as Angad Singh Chandhok, was deported from the United States and arrested on June 2, said deputy commissioner of police (EOW) Vikram Porwal. Singh conspired with a private bank employees to forge more than 460 Foreign Inward Remittance Certificates (FIRCs), which were used to fraudulently claim duty credit scrips - government-issued incentives meant for exporters, said police.

"Singh and his father Surinder Singh and brother Harsah...