The Income Tax Department has unearthed a major racket allegedly involving Chinese companies that used shell entities for “hawala” operations in India. Searches have been conducted on the premises of suspects at 21 locations in Delhi, Ghaziabad and Gurugram.
The agency has also zeroed in on a Chinese national been living under a pseudonym, Charlie Peng. The accused, who held a fake Indian passport purportedly issued from Manipur, has been identified as Luo Sang.
He allegedly used about 10 bank accounts opened under fictitious names. He represented many Chinese firms for “hawala” operations. “Based on information that a few Chinese individuals and their Indian associates were involved in money laundering, a search was mounted,” said the department.
