Special PMLA court of Delhi rejected Bhupesh Arora's bail plea on 20 September 2025. Bhupesh Arora is considered to be the main accused of one of the largest cyber investment fraud in the country.
Arora was arrested by ED on 11 July 2025. He fled to Dubai with his colleagues in early 2022, so that he could avoid the investigation of cyber fraud. Recently he secretly returned to India through Nepal border, where he was arrested
How did a big scam to Loxam App?
ED has Xindai Technologies Pvt. Ltd., Bhupesh Arora, Rohit Vij and others registered a case under PMLA. The investigation started on 26 July 2022, when the Hyderabad Cybercrime Police registered an FIR. It is alleged that some Chinese citizens along with Indian colleagues run an investment app named Loxam.
Describing this app as part of a big French company, people were lured to give huge returns from false promises. Thousands of people invested money in it, but the investment amount was sent abroad. ED raided five locations and seized digital devices and property worth 2.01 crore.
Money laundering methods similar
Apart from this, more than 500 bank accounts were investigated, from which it was revealed that about 311 crore was fraudulently rotated. These money Xindai Technologies Pvt. Ltd. And went to other accounts associated with it and then Ranjan Moneycorp Pvt. Ltd. And KDS Forex Pvt. Ltd. Transferred in
These money was converted into foreign currency and sent abroad through hawala. Investigation also revealed that about 903 crore foreign transactions were conducted from fake companies and payment gateways. This pattern is similar to the money laundering methods identified by the international agency FATF (Financial Action Task Force).
System run with middlemen
Bhupesh Arora is being considered as the main conspirator of this entire network. The evidence and witnesses found in the investigation have proved that he made arrangements to send money abroad through cash withdrawal, forex conversion and hawala. He run this entire system with many money changer and middlemen.
Also read:- Patra Chala Money Laundering case: PMLA court action, summons issued on second supplementary charge sheet of ED