Crime
Former AAP MLA Candidate Held Over Alleged Rs 150 Crore Fraud
The Enforcement Directorate has arrested Deepak Singla in connection with alleged hawala operations and a bank fraud case linked to money laundering investigations.
The Enforcement Directorate (ED) has conducted searches at premises linked to Deepak Singla in New Delhi and Goa as part of an investigation into alleged hawala operations and money laundering.
Officials said Deepak Singla, who is associated with the Aam Aadmi Party (AAP), has been arrested in connection with the probe.
According to investigators, Singla is suspected of allegedly handling hawala-based fund movement between Delhi and Goa.
The ED further alleged that Deepak Singla, along with his uncle Ashok Kumar Mittal, brother Raman Singla, and Harish Singla, was involved in defrauding Oriental Bank of Commerce of more than Rs 150 crore.
Officials claimed that the alleged proceeds from the fraud were transferred to controlled firms in Singapore.
Investigators also suspect that part of the alleged proceeds of crime was routed back into India through hawala channels and used in further illegal activities.
The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA).
The ED said further investigation is underway to trace financial transactions, identify additional beneficiaries, and determine the full extent of the alleged money laundering network.
No immediate response from the accused or the Aam Aadmi Party was available regarding the allegations.