ED Unveils Web of Misdirected Funds in Hair Export Scam

The Enforcement Directorate's investigation, spearheaded by its Dimapur office, has exposed a fraudulent financial activity masked as human hair exports. The inquiry centers on Lima Imsong and his company, Imsong Global Suppliers Co., which allegedly facilitated financial diversions contravening FEMA regulations across Nagaland, Assam, and Tamil Nadu.

The Enforcement Directorate (ED) conducted simultaneous raids on Tuesday in the states of Nagaland, Assam, and Tamil Nadu, as part of an investigation into illegal financial transactions disguised as human hair exports. These actions were directed under the Federal Exchange Management Act (FEMA), officials confirmed.

Officials stated that premises in Dimapur, Guwahati, and Chennai were examined in connection with the case. This marks the first instance of an ED probe under FEMA by the Nagaland office, with the investigation focusing on Lima Imsong and others involved in the case.

The probe centered on Lima Imsong's Imsong Global Suppliers Co., which reportedly failed to fulfill export obligations. Instead, funds were diverted to another entity, Inchem India Pvt. Ltd., which is under Imsong's control. Investigations continue as ED officials inspect these suspicious activities.

(With inputs from agencies.)