ED arrested Manideep Mago, aide of an international hawala syndicate, on money laundering charges related to illegal foreign remittances.

Enforcement Directorate (ED) arrested Manideep Mago, an aide of an international hawala syndicate, on charges of money laundering related to illegal foreign remittances. Mago allegedly used bogus transactions for remittances and his firm sold cryptocurrencies worth over Rs 1,858 crore. The ED also discovered an additional Rs 3,500 crore of foreign remittances executed by the company and its related entities.