Haryana Police Unravels Rs 700 Crore Fake Company Money Laundering Scheme

The State Crime Branch of Haryana Police has successfully dismantled a major organized crime syndicate and arrested seven suspects involved in illegal international money transfers through fictitious companies. This operation was confirmed in an official statement released on Friday.

Investigations revealed that the suspect had clandestinely transferred around Rs 700 crore to foreign bank accounts disguised as legitimate business deals. The first suspicions arose from a complaint received on March 18 about questionable financial activities.

On the orders of Haryana’s Director General of Police, Shatrujeet Kapur, a Special Investigation Team (SIT) was constituted, headed by Additional Director General of Police, State Crime Branch, and Deputy Commissioner of Police, Gurugram, Nitish Aggarwal. The team found that the suspects had rooted their operations in fake companies with fictitious directors, and used these entities to manipulate import-export operations through Gujarat and Mumbai, heavily inflating invoice costs to shift funds abroad.

(With input from agencies.)