ED registers money laundering case against a Chinese national

Rana Kapoor's three plush Delhi properties under ED lens | The ...

Enforcement Directorate registered a money laundering case against a Chinese national for allegedly running a hawala racket worth an estimated 1,000 crore INR through dubious firms. The central probe agency has pressed sections of the Prevention of Money Laundering Act against 42-year-old Charlie Peng alias Luo Sang who is alleged to be the kingpin of the racket. Peng and some of his alleged associates, including Indians, and bankers were raided by the Income Tax Department last week.  The taxman had searched at least two dozen premises, including that of Peng in Gurgaon close to the national capital. ED has taken cognisance of the tax department’s evidence and action and a Delhi Police Special Cell FIR against Peng before filing the criminal case of money laundering against him. FIRSTPOST says Peng was arrested by the Special Cell of the Delhi Police in September 2018 on charges of fraud and forgery and was allegedly running an illegal money changer. He is currently being questioned by the tax department apart from central intelligence agencies.

It was reported that Sang was arrested by the Special Cell of the Delhi Police in September 2018 under charges of espionage. He was reportedly is also accused of spying for China besides running money laundering and hawala transaction businesses. The Income Tax department had on August 11 carried out searches on the premises of Chinese entities, their confederates and some bank employees based on credible information regarding Chinese individuals and their associates being involved in money laundering and hawala. Some bank officials are under ED’s scanner for abetment. Livemint reports it is also revealed that the subsidiary of a Chinese company and its related concerns took over ₹100 crore bogus advances from shell entities for opening retail showrooms businesses in the country, officials had said. Incriminating documents revealing hawala transactions money laundering with the involvement of bank employees and chartered accountants were found during the searches. Image courtesy to The Samikshya

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