Fifth Arrest in Birfa IT Hawala Scam Raises Stakes in Multi-Crore Case

The Enforcement Directorate has arrested Jaspreet Singh Bagga in the Birfa IT case. The case involves illegal foreign remittances and under-invoiced imports from China and Hong Kong, valued at Rs 4,817 crore. Bagga, accused of cash handling and money laundering, was remanded to custody, highlighting a sophisticated criminal network.

The Enforcement Directorate (ED) has made another significant arrest in the sprawling Birfa IT money laundering case, detaining Jaspreet Singh Bagga, the fifth accused, for his role in illegal foreign remittances linked to under-invoiced imports from China and Hong Kong. The total value of these remittances stands at an astounding Rs 4,817 crore.

Brought before the Special Court in Dwarka, Bagga has been remanded in ED custody. He is closely associated with several previously arrested individuals, including Sanjay Sethi and Mayank Dang, both implicated in the intricate web of financial misdeeds involving compensatory payments and forged invoices.

The ED's findings expose Bagga's optical shop as a hub for unaccounted cash. Investigations further reveal his handling of Rs 250 crore in cash for the syndicate's illicit transactions. The probe connects these activities to broader financial misconduct, including illegal crypto transactions and an FIR by the Delhi Crime Branch.

(With inputs from agencies.)