Noida, March 20 -- With the arrest of two Haryana-based businessmen, the Noida Police on Wednesday evening claimed to have nabbed the "masterminds" of the Rs.10,000 crore GST [good and services tax] fraud case, which came to fore in June last year, senior police officers said.

According to Shakti Avasthy, deputy commissioner of police (crime), the two suspects had claimed over Rs.26 crore in input tax credit (ITC) from the government fraudulently, which has been seized by the police from their bank accounts.

On June 1 last year, the Noida police busted a gang suspected of orchestrating the multi-crore fraud. According to police, the gang would register thousands of bogus companies under stolen or fake identities and use them to generate...