Jatin Ahuja – Luxury Car Scam and Big Boy Toyz
When we talk about luxury cars and big parties, the first name that pops up is Jatin Ahuja. The owner of Big Boy Toyz, a luxury car dealership, is an affluent entrepreneur who has built his empire by selling used luxury vehicles.
At a glance, his life seems enviable. The BBT owner has many celebrities as his clients and his company has an annual turnover of over INR 250 crores.
If you believe his PR articles and bio, you would think that he is a self-made entrepreneur who got successful through hard work. However, that might be quite far from the truth as his company’s unethical practices were exposed recently.
Jatin Ahuja’s wife is Ritika Jatin Ahuja who is the COO of Big Boy Toyz.
In the following Jatin Ahuja wiki, I have shared information on his income, net worth, and what unethical tactics his company has used:
Big Boy Toyz Car Scam: Jatin Ahuja Net Worth Secret Exposed?
Last year, when everyone was worried about the pandemic, the Directorate of Revenue Intelligence (DRI) had made a big discovery.
They exposed a scam related to the import of luxury vehicles. DRI found the gang that imported 20 vehicles to India and evaded tax of more than INR 25 crores by using different diplomats’ names.
Among the people DRI had arrested was the CEO of Big Boy Toyz, Nipun Miglani.
DRI had titled this mission “Operation Monte Carlo”. The gang used to evade taxes by using the names of different diplomats present in India. Then, they used to sell the vehicles at full cost including the amount of evaded taxes.
The Reason Behind Running the Scam:
The Government of India levies heavy taxes when you import a foreign-made vehicle to the country. You must pay customs duty on every imported item.
According to the Regulation of Customs Privileges Rules, 1957, the net customer duty on an imported automobile in India is 204%.
This applies to both cars and bikes.
Hence, the cost of CBU models is around 3 times more in India.
However, international diplomats stationed in India and their families don’t have to pay customs duty on imported vehicles.
By smuggling those vehicles in, the Big Boy Toyz CEO was able to save a ton of money on taxes. This increased their profit margin substantially.
How the Big Boy Toyz CEO Used to Run this Scam:
According to the media reports, the mastermind behind this scam was a Dubai resident who had a record of getting involved in customs offenses. DRI had investigated him for those offenses before.
He arranged the import of vehicles from Japan, the UK, and the UAE. Nipun Miglani, the CEO of Big Boy Toyz at the time, would find the potential customers of these vehicles. When the vehicles reached India, he would send them straight to buyers or a “dealer of luxury cars”.
Furthermore, the scammers would get these vehicles registered in different states such as Maharashtra, Punjab, and Himachal Pradesh. After registration, they used to charge customers for the full imported cost of the vehicle. This means they would add the 204% customs duty to the cost as well which they had never paid.
What is a Red Flag?
A red flag serves as a signal or sign that there may be an underlying issue or danger associated with a company’s stock, financial statements, or news reports. These indicators can come in many forms and are often identified by analysts or investors as any notable undesirable trait.
DRI estimated that the gang had made around INR 25 crores from the sale of 20 cars.
How DRI Caught the Scam of Jatin Ahuja’s CEO:
DRI had started the investigation when a luxury car was imported under the name of an African diplomat. He was stationed in New Delhi at the time.
DRI watched the vehicle closely and discreetly. They noticed that some people had loaded the vehicle in a truck and driven it to a showroom in Andheri, Mumbai. Then, they put it on display there.
Afterward, DRI searched the homes of key members of the gant. They seized 6 vehicles including a Range Rover and a Toyota Land Cruiser.
However, the DRI said that they have identified more vehicles and were locating the same.
When the scam became public, Jatin Ahuja fired the CEO immediately. The firm clarified that it didn’t have any role in the scam.
Jatin Ahuja said that Big Boy Toyz has never been associated with any kind of illegal practices. He highlighted that Miglani performed all the illegal activities in his personal capacity.
They said that Mr. Miglani performed those illegal activities outside the organization and beyond office hours. Jatin also said that his company was not aware of such practices and as soon as they found out, they terminated his employment.
Was Jatin Ahuja Involved in the Scam?
No matter what Jatin Ahuja says, there are a few questions left unanswered:
- How could Jatin Ahuja not know what his company’s CEO was doing for so long?
- Couldn’t BBT have benefitted from selling those illegal cars?
- How much free time does the CEO of BBT get if he can run a 25-crore scam so easily?
- Jatin’s wife is the COO of BBT, was she really unaware of her CEO’s activities?
These are some serious questions.
Keep in mind that the cars DRI found were only part of one batch. There might have been a ton of other vehicles the gang must have imported illegally. How many of those vehicles did the BBT CEO sell through Jatin’s company?
No matter what he says, it seems highly improbable for Jatin Ahuja to be unaware of this scam.
He is the owner of the company and must have been close with his firm’s CEO. Either he has terrible management skills or he is an extremely cunning scammer.
In both cases, he doesn’t look like a reliable businessman.
Also, DRI found that the scammers sold 20 of those illegal vehicles to consumers. Were any of those customers related to BBT? There is a good chance they were. After all, the person who sold them was the CEO of Big Boy Toyz.
Several people raised suspicions about why the media avoided mentioning Jatin’s name as well:
Clearly, Jatin Ahuja used his influence and power to bury the news and ensure no one suspected him of the luxury car scam.
There’s a good chance that the luxury car scam is the reason why Jatin Ahuja’s net worth is so high.
It would be unwise to assume that Jatin Ahuja had no involvement in the luxury car scam. He is the owner of the company while his wife is the COO. There is no way that they were unaware of their CEO’s illegal activities which involved crores.
Furthermore, there’s a good chance that the luxury car scam sold illegal vehicles to many of BBT’s customers. Jatin made sure that no one remembers this story or associates him with this scam.
But it’s important to ask these questions. Otherwise, who else will?
Most of the evidence suggests that Jatin Ahuja was directly or indirectly involved in the luxury car scam. Either that, or he is a terrible owner who has no idea what his employees do, which is a poor excuse. It’s highly probable that he sold illegal vehicles to the clients of BBT.
- Smuggled illegal vehicles
- Shady business activities