The Chandigarh zonal team of ED arrested Nawab Hasan, a big agent from Uttar Pradesh on 25 September 2025. The court has sent him to a 9 -day custody. Nawab Hasan is accused of collecting public deposits worth crores of rupees by making false promises to thousands and then used in money laundering through fake platforms like QFX, YFX, BOTBRO, BOTALPHA, Crossalpha and Minecrypto.
According to the ED investigation, it was a pyramid scheme, which was spread over many states Himachal, MP, Haryana, UP and Assam. People were lured to give 5-6% month returns and it was said that money would be invested in AI-bot and forex trading, but the reality was that no trading was being done.
Money was used in purchasing property and in Shano-Shaukat
After investing, the IDs of the people were deleted and the payment was stopped after a few months. The money collected was sent to Dubai via USDT (virtual currency) and was bought in the pride.
ED investigation revealed that Nawab Hasan's status was of Blue Diamond Executive in this network. More than 10,000 investors were connected below it. Initially, he used to take money through cash and payment aggregator, later started sending Dubai via USDT.
Nawab Hasan met the mastermind Lavish Chaudhary in Dubai
Nawab Hasan went to Dubai several times and met the mastermind of this scam with Lavish Chaudhary alias Nawab. The Nawab himself admitted that the balance shown on the platform was fake and old people were paid with new investment. The ED had recovered Rs 94.23 lakh cash in cash before his Shamli's house.
On 17 September 2025, ED arrested another big agent Harinder Pal Singh in this scam. He took the name of Nawab Hasan during interrogation. Earlier on 26 August 2025, ED attached 45 properties worth 9.49 crore. In the Reds, held on 11 February and 4 July, Rs 391 crore was caught in 185 bank accounts.
Names of many shell companies included
1. QFX Trade Ltd
2. NPAY BOX PVT Ltd
3. Capter Money Solution Pvt Ltd
4. Rainet Technology Pvt Ltd
5. Kindent Business Solution Pvt Ltd
6. Mool Business Solution Pvt Ltd
7. Tiger Digital Services Pvt Ltd
ED is investigating this entire case under PMla. According to ED officials, the focus of investigation is now to find the entire money trail, identify the rest of the agent and benami owners, catch the fronts associated with Dubai and stop the remaining disturbances, secure people's money. ED says that investigation is still going on.
Also read:- Bengaluru: Woman beaten and beaten on the allegation of saree, the video went viral and the police arrested
