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Home NEWS ED arrests 2 Chinese nationals in money laundering case

ED arrests 2 Chinese nationals in money laundering case

The ED has arrested two Chinese nationals in reference to its money laundering probe linked to an alleged hawala racket price an estimated Rs 1,000 crore that concerned shell or doubtful corporations, official sources stated on Sunday. The central probe company arrested Charlie Peng alias Luo Sang (42) and Carter Lee below the Prevention of Money Laundering Act (PMLA) on January 15. They have been produced earlier than a neighborhood courtroom right here on Saturday that despatched them to 14 days custody, they stated.

The ED case towards Peng stems from an Income Tax Department investigation of final 12 months and an FIR filed by the Delhi Police particular cell towards him in 2018. Peng’s identify had cropped up final 12 months in reference to the detention of two individuals in Himachal Pradesh who have been allegedly monitoring Tibetan non secular chief the Dalai Lama’s motion on his path.

The Chinese nationwide and a few of his alleged associates, together with bankers, have been raided by the Income Tax Department in August. Peng, sources had alleged, had a faux Indian passport. Tax officers had claimed that he created a “web of sham companies to launder hawala funds to and from China” in the previous two-three years.

The sources had stated his entrance or showcase enterprise was import and export of medical and digital items and another gadgets. Peng, the sources stated, was arrested by the Special Cell of the Delhi Police in September 2018 on expenses of fraud and forgery and was allegedly operating an unlawful money changer.

Both ED and I-T division, sources had stated, are additionally probing allegations if Peng was “bribing” some Tibetans dwelling in Delhi.

In a press release in August final 12 months, the CBDT had, with out figuring out the entities concerned, said that its searches have been primarily based on “credible inputs that a few Chinese individuals and their Indian associates were involved in money laundering and hawala transactions through a series of shell entities.”

It had stated the “subsidiary of Chinese company and its related concerns have taken over Rs 100 crore bogus advances from shell entities for opening businesses of retail showrooms in India”.

“Search action revealed that at the behest of Chinese individuals, more than 40 bank accounts were created in various dummy entities, entering into credits of more than Rs 1,000 crore over the period,” the CBDT had stated.

(*2*) it stated.

Evidence of overseas hawala transactions involving Hong Kong and US {dollars} have additionally been unearthed, the CBDT had stated.
Similar expenses are being probed towards Lee by the ED, they stated.

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