Hawala racket: He was extracting Rs 3 crore every day. He married a Chinese citizen, a young woman from Manipur.

- The Chinese suspect had about 40 bank accounts and was assisted by officials from Bandhan Bank, ICICI Bank.

New delhi date. 12 August 2020, Wednesday

There have been a number of revelations about the hawala business being run by a Chinese national living in India. Inquiries by the Income Tax Department revealed that Lou Sang had changed his identity in India. Not only that, he is also married to a young woman from Manipur. A team from the income tax department raided the hawala business on Tuesday and busted about Rs 1,000 crore.

So far in the investigation of the income tax department, so many things have come up ...

- The suspect Lou Sang changed his identity and lived in India. He became Charlie Pang and considered himself an Indian citizen. He has a fake Indian passport and Aadhaar card. He is married to a young woman from Manipur.

- Lou used to withdraw Rs 3 crore every day through hawala with the help of officials from Bandhan Bank and ICICI Bank. The Chinese suspect has about 40 bank accounts.

- The income tax department also raided the homes of bank officials.

- The scam had been going on for about three years in which bogus companies were created. The total cost of the scam could cross Rs 1,000 crore.

- The accused frequently changed his address. He first stayed in Dwarka, Delhi and then in the DLF area.

- Not only Chinese rupee but also Hong Kong, US dollar was being swindled.

In fact, based on information from intelligence agencies, the Income Tax Department raided 21 locations of Chinese nationals in Delhi, Ghaziabad and Gurugram. The income tax department has so far recovered Rs 300 crore in hawala transactions and this amount could exceed Rs 1,000 crore.