ED arrests man running ₹696cr money laundering operation
The Enforcement Directorate (ED) has arrested Amit Aggarwal, who's accused of running a massive ₹696 crore money laundering operation that moved funds from India to Hong Kong and Singapore.
The arrest happened on August 30, 2025, following an FIR registered by the Delhi Police's Economic Offences Wing against Kinzal Freight Forwarding and others.
Turns out, Aggarwal set up fake companies using forged documents and opened bank accounts in their names—then used these shell firms to send money overseas by pretending to import goods.
Aggarwal's team faked paperwork to make it look like imports
Aggarwal's team faked paperwork like airway bills and accountant certificates so it looked like they were importing products, but nothing actually arrived.
This led to a huge loss of foreign exchange for India.
The ED has now put out an Interpol alert so agencies worldwide are aware of the scam.
With Aggarwal in custody and investigations still on, this case is a reminder of why tighter checks on financial transactions really matter.