ED Arrests Delhi-Based Importers in Massive Money Laundering Case Involving Over ₹4817 Crore in Illegal Foreign Remittances
(Judicial Quest News Network)
The Directorate of Enforcement (ED) arrested Delhi-based importers Mayank Dang and Tushar Dang on 25/11/2024 under the Prevention of Money Laundering Act (PMLA), 2002. The Dang brothers are involved in the Birfa IT case, which also saw the arrest of two other accused, Manideep Mago and Sanjay Sethi. The brothers were presented before the Special Court, Dwarka, and remanded to ED custody for three days until 28/11/2024.
The case centers around the illegal transfer of foreign remittances worth ₹4817 crore through forged invoices, intended to make compensatory payments for under-invoiced imports from China and Hong Kong. ED’s investigation revealed that the Dang brothers operated a well-organized syndicate comprising Indian importers, traders, cash handlers, international hawala agents, and Chinese manufacturers, all involved in a complex web of illegal activities.
The Dang family controlled several foreign entities in collaboration with a Chinese associate known as “Mr. King.” Goods imported by the Dangs were severely under-invoiced, and payments for these goods were remitted abroad through bogus invoices linked to crypto mining services, educational software, and server leases—none of which were provided.
The remittances, routed through companies controlled by Mago and his accomplices, ultimately benefited Chinese exporters. The investigation further revealed that the Dang brothers were involved in the destruction of evidence, instructing employees and clients to tamper with digital devices once the ED probe began. Investigations are ongoing.
