**Bhopal (Madhya Pradesh): Enforcement Directorate Arrests Agent in Rs 3,200 Crore Investment Fraud**
The Delhi unit of the Enforcement Directorate (ED) has arrested Nawab Hasan, an agent of Lavish Chaudhary, the mastermind behind a massive Rs 3,200 crore investment fraud, officials confirmed.
Hasan played a key role in a large-scale scam involving fraudulent investment schemes such as Botbro, BotAlpha, QFX, YFX, and Mine Crypto. These schemes promised investors monthly returns of 5 to 6 percent but failed to deliver any payouts. Acting under Lavish Chaudhary’s instructions, Hasan lured innocent individuals into investing online in these deceptive schemes.
**Action by MP Special Task Force**
According to MP Special Task Force (STF) AIG Naveen Choudhary, the MP STF has requested detailed information about the two agents arrested by the ED and has issued a lookout circular against Lavish Chaudhary. So far, the STF has registered FIRs and arrested 11 associates linked to Lavish’s operations.
The crackdown on the gang stems from FIRs filed by police departments across Himachal Pradesh, Haryana, Uttar Pradesh, and Assam. Following the recent arrests by the ED, the MP STF has written to the agency seeking further details about the accused and key developments in the case.
**Lavish Chaudhary Hiding in Dubai**
Investigations conducted jointly by the MP STF and the ED revealed that Lavish Chaudhary, also known as Nawab, is currently hiding in Dubai and is operating under multiple aliases. The proceeds from this Rs 3,200 crore fraud have been used to acquire properties and finance hobbies across Dubai, Sharjah, and Abu Dhabi.
**Funds Frozen Amidst Ongoing Crackdown**
The ED recently arrested another agent, Harinder Pal Singh, whose information was crucial in leading to the detention of Nawab Hasan. Earlier this year, the ED conducted raids at Lavish Chaudhary’s locations, uncovering 185 shell companies and freezing Rs 391 crore in bank accounts.
Meanwhile, the MP STF discovered transactions totaling Rs 3,200 crore across various gang accounts and managed to freeze an additional Rs 250 crore as part of the ongoing crackdown.
Authorities continue their coordinated efforts to dismantle this fraudulent network and bring all involved parties to justice.
https://www.freepressjournal.in/bhopal/mp-stf-ed-arrest-agent-of-lavish-chaudhary-in-rs-3200-cr-investment-fraud
