The Enforcement Directorate (ED) has arrested two Chinese nationals in connection with its money laundering probe that it registered last year in August, officials said on Sunday.
An ED official related to probe told IANS, "ED arrested Luo Sang aka Charlie Peng and Carter Lee arrested on Friday under Prevention of Money Laundering Act (PMLA)."
The official said that Peng and Lee are accused of running a huge hawala operation for Chinese companies through hundreds of shell companies.
The official said that they were produced before a court on Saturday and sent to ED custody for 14 days.
The agency has registered a case of money laundering against them in August last year after the Income Tax department had carried out raids and claimed Peng and other Chinese nationals were running a huge hawala operation.
They were also accused of running an espionage racket. The Delhi Police has also registered a case against them.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.