National

ED Executes Raids Across Multiple Cities in Himachal Police Forex Trading Case

Published

1 year ago

February 13, 2025

The Enforcement Directorate (ED) for the Chandigarh region has executed search operations under the Prevention of Money Laundering Act (PMLA), 2002, across multiple locations, including Delhi, Rohtak in Haryana, Noida, and Shamli in Uttar Pradesh. This action is part of an ongoing investigation into QFX Trade Ltd and others, who have been allegedly operating a multi-level marketing scheme disguised as forex trading.

The company’s directors include Rajender Sood, Vineet Kumar, and Santosh Kumar, along with one of the key figures, Nawab Ali, also known as Lavish Chaudhary.

The investigation was initiated following numerous FIRs filed by the Himachal Pradesh Police against QFX Company, which has been accused of defrauding numerous investors through a fraudulent forex trading scheme.

QFX and its directors were reportedly running an unregulated deposit scheme, tempting investors with promises of high returns on their investments. The agents of the QFX group promoted their MLM scheme under the QFX investment plan, utilizing websites, apps, and social media advertisements to attract investors with the lure of significant returns from forex trading.

It was revealed that the directors of the company, along with various agents commissioned by QFX and YFX, conspired to operate this unregulated deposit scheme, enticing individuals with promises of a 5% monthly return on their investments.

Officials disclosed that the name of the QFX scheme was changed to YFX (Yorker FX) after FIRs were lodged by the Himachal Police against QFX Trade Ltd and its directors. The methodology remained consistent, duping unsuspecting investors by promoting high returns under the facade of forex trading.

Further investigations uncovered that Nawab Ali was also managing other fraudulent investment schemes, including BotBro, TLC Coin, and Yorker FX, which were falsely portrayed as forex trading platforms. Events were organized both in India and Dubai to attract more customers.

The ED’s examination revealed that various bank accounts belonging to NPay Box Private Ltd, Capter Money Solutions Private Ltd, and Tiger Digital Services Private Ltd were being utilized to gather funds from investors.

Searches were conducted at the offices and residences of the directors of these companies, uncovering that these shell companies were instrumental in receiving public deposits for investment in QFX/YFX, while falsely claiming high returns generated through forex trading.

During the search operations, over 30 bank accounts associated with these shell companies, amounting to approximately Rs 170 crore, were frozen due to the directors’ inability to clarify the source of the funds.

Additional searches were carried out on some of the agents associated with QFX/YFX, leading to the seizure of more than Rs 90 lakh in cash from the premises of one agent. Several incriminating documents and digital devices were also confiscated during these operations. The investigation is ongoing, according to the ED statement.

National

Pickup Vehicle Crashes Into Divider, Two Killed Including Child

Published

1 hour ago

March 5, 2026

Namma Kudla

Uttar Pradesh: A tragic road accident took place in Uttar Pradesh when a pickup vehicle lost control and crashed into a road divider.

The driver and a three-year-old girl died on the spot due to the impact of the crash. Nine passengers who were travelling in the vehicle sustained injuries. They were rushed to the district hospital for treatment.

Reports said the victims were travelling to their native village to celebrate the Holi festival. A video showing the horrifying scene of the accident has gone viral on social media.

Preliminary reports suggest that overspeeding may have led to the accident. Police have started an investigation into the incident.

National

Five from Karnataka Killed in Car–Container Collision in Andhra Pradesh

Published

1 day ago

March 4, 2026

Namma Kudla

Andhra Pradesh: Five people from Karnataka were killed on the spot after the car they were travelling in rammed into a container truck from behind in Andhra Pradesh’s Chittoor district on Tuesday.

The accident occurred near Gangavaram in Palamaneru while the victims were on their way to Tirupati temple from Bengaluru. According to police, the car crashed into the rear of a container vehicle with great force, leaving the vehicle completely mangled.

The deceased have been identified as Mohandas (71), Nagaraj (61), Kusuma (61), Jayanti (59), and Pooja (33). All of them were residents of Rajajinagar in Bengaluru.

Preliminary reports suggest that the impact of the collision was so severe that all five occupants died at the scene. Police have registered a case at the Palamaneru police station and further investigation is underway.

More details are awaited.

National

Woman Kills Ex-Lover Over Blackmail in Ballia

Published

3 days ago

March 2, 2026

Namma Kudla

Uttar Pradesh: A married woman allegedly killed her former lover in Ballia after he blackmailed her with private videos, police said.

According to police, the victim was identified as Pankaj Gupta, a resident of Azamgarh. He was reportedly in a relationship with the woman from a nearby village.

Police said the woman wanted to end the relationship. However, Gupta allegedly began blackmailing her using obscene videos and harassed her repeatedly.

Unable to bear the threats, the woman informed her brother and sister-in-law. The trio allegedly planned the murder during a wedding function on February 5.

On February 7, they allegedly called Gupta to the village on a pretext. He was strangled to death, police said. The accused then poured acid on his face to hide his identity and tried to destroy evidence.

An unidentified body with a disfigured face was found on February 10. The crime was later solved during the investigation.

Police have arrested three accused, including the woman, and sent them to judicial custody. Efforts are on to arrest other suspects involved in the case.