Chinese national ran hawala network to destabilise India's economy | Hybiz Tv


According to sources, Lou Sang, a 42-year-old Chinese national, might have been involved in destabilizing the country’s economy by infusing money through the Hawala network.
Luo Sang had created a fake Indian passport and had assumed the name, Charlie Pang
Sources said, Lou Sang, a 42-year-old Chinese national, might have been involved in destabilizing India’s economy by infusing money through the Hawala network.
Lou Sang was arrested in a raid by the Income Tax Department for money laundering and representing fake Chinese companies in hawala transactions. He was earlier arrested by the Delhi Police on spying charges. The case against Lou Sang is likely to have implications on the already worsening relationship with the Chinese government amid the border tensions.
A statement by the Chinese side said: “The Chinese government has always required overseas Chinese citizens to abide by local laws and regulations. At the same time, they also require foreign governments and relevant departments to enforce the law impartially to ensure the safety and legal rights of Chinese citizens.”
After the Income Tax raids, the Enforcement Directorate (ED) has also sought details from the Income Tax Department and the Delhi Police and is expected to lodge a money laundering case. The investigating agencies suspect that some foreign nationals of other countries may also be involved in the scam.
The agencies also found two Indian passports in the name of Charlie Peng and Vanlalrinchhani Khawlhri. Sources said that Lou, who took a fake identity ‘Charlie Peng’ in India, is also married to a Manipuri woman. In 2018, Lou Sang was arrested in a cheating and fake passport case by Special Cell. However, he was released due to a lack of evidence.
Police had then recovered Aadhar Card in the name of Charlie Peng based out of West Delhi. The agencies also came across another Aadhar card with the same number but with an address in Manipur. The accused kept on changing his addresses at regular intervals and managed to evade arrest. Earlier he was staying in Dwaraka and the current address was in Gurugram. The Chinese national was also found to be in possession with a PAN Card in the name of Charlie Peng, son of Dhondup Peng.
According to the sleuths, Charlie Peng’s real identity is Luo Sang. He is a Chinese national and hails from Lhasa, Tibet. His current address is in Gurugram, Haryana. Lou Sang assumed an Indian identity to run the hawala racket over the past three years and held an Indian passport and Aadhaar under the name of Charlie Pang.
He was infusing cash of around Rs 3 crore through the hawala chain on a daily basis with the help of bank employees in Bandhan Bank and ICICI Bank. He holds over 40 bank accounts.
The Income Tax Department raided several bank employees as well. The department conducted searches at least two dozen premises in Delhi, Gurgaon, and Ghaziabad. The foreign hawala transactions involved Honk Kong and US dollars.
The Central Board of Direct Taxation (CBDT) has said that the “subsidiary of Chinese company and its related concerns have taken over Rs 100 crore bogus advances from shell entities for opening businesses of retail showrooms in India”. It is suspected that the scam is worth over Rs 1,000 crore and is being operated using a subsidiary of a Chinese company.
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