ED, Hqrs. Office has arrested Manideep Mago under the provisions of PMLA, 2002 in the illegal foreign remittances case. Manideep Mago was produced before the Hon’ble Court on 18.06.2024, and the Hon’ble Court has granted 5 days ED custody till 23.06.2024. [Read More]

Manideep Mago has been arrested by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act (PMLA), 2002, in connection with illegal foreign remittances involving a Delhi-based company. \r

Following investigations into crypto currency transactions exceeding Rs. 1858 crore and foreign outward remittances exceeding Rs. 3500 crore, ED conducted a search under FEMA, uncovering an international hawala syndicate operating in Delhi. The syndicate allegedly facilitated remittances to Canada and Hong Kong through bogus invoices for crypto mining and other services.\r

ED's findings prompted a complaint to Delhi Police, leading to FIRs and custodial arrests. The investigation remains ongoing.