The Directorate of Enforcement (ED), Chandigarh Zonal Office, has arrested Harinder Pal Singh, one of the main agents in India linked to syndicates allegedly masterminded by Navab alias Lavish Chaudhary, currently operating from Dubai. The arrest was made on September 17, 2025, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The Special Court under PMLA, Chandigarh, has remanded Singh to ED custody for nine days for custodial interrogation.

The ED initiated its probe based on multiple FIRs registered across Himachal Pradesh, Uttar Pradesh, and other states under Sections 120B, 406, and 420 of the IPC. The FIRs alleged that the QFX group of companies and their agents defrauded thousands of investors by promising assured monthly returns through purported forex trading schemes.

Investigations revealed that the syndicate, headed by Nawab alias Lavish Chaudhary, mobilized investments worth hundreds of crores through an unregulated deposit scheme, offering returns of 5–6% per month. Funds collected in India were routed through top agents and layered via shell companies and payment gateways to conceal their origin. The group frequently changed the names of investment platforms such as QFX, YFX, and Botbro to attract new investors.

According to the ED, Harinder Pal Singh, head of the “Singh Brothers Team,” was a key link between the India-based network of agents and the Dubai-based masterminds. His arrest follows earlier searches conducted under Section 17 of the PMLA on February 11 and July 4, 2025, which led to the seizure and attachment of proceeds of crime worth ₹400 crore.

Reaffirming its commitment to dismantling fraudulent investment syndicates, the ED appealed to the public to remain vigilant and verify the legitimacy of investment schemes before investing. It warned against falling prey to offers of abnormally high returns and urged citizens to report suspicious schemes to law enforcement authorities.

Further investigation is underway to trace the remaining proceeds of crime, identify other agents, and bring the masterminds operating from foreign jurisdictions to justice.

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