The ED Chandigarh zonal office team arrested Harinder Pal Singh on Wednesday (17 September 2025). Harinder has been arrested under PMLA. This arrest is related to a large investment fraud case of crores of rupees, which was being run through platforms like QFX/YFX/BotBro.
Special PMLA court of Chandigarh has sent Harinder Pal Singh to 9 days ED custody so that he can be questioned. The ED started the investigation when separate FIRs were registered in Himachal Pradesh, Uttar Pradesh and many other states.
Fraud of crores in the name of investment
It was alleged in these FIRS that the QFX group of companies and their agents are cheating crores of rupees in the name of investment. The company used to impure people that if they invest money in their Forex Trading Scheme, then they will get firm profit of 5 to 6 percent every month. Investigation revealed that the mastermind of this entire network is Nawab alias Lavish Chaudhary who is currently operating from Dubai.
Harinder Pal Singh arrested
According to the ED, in this case, money was collected from people through a large network in India. After this, this money was hidden here and there through shell companies and different payment gateways and hidden real sources. The company used to launch a new platform every few months, so that more people could be wooed.
Harinder Pal Singh, who was the head of the Singh Brothers team, was an important link between India’s agent network and the mastermind sitting in Dubai. ED had earlier raided several places on 11 February 2025 and 4 July 2025. In these actions, an illegal earnings of about 400 crore rupees were attached. At present, the investigation of the case is going on. The ED is trying to reach the rest of the agents and the masterminds sitting abroad.
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