Chinese national, two held in Noida over shell firms, hawala racket

UPSTF arrested a Chinese national from Fuzhao, China, and two Indian associates in Noida for operating shell companies and hawala transactions.

The group used a mobile cover manufacturing company as a front to inflate import bills from China and route funds back through hawala channels.

Police recovered cheques worth ₹4.7 crore, laptops, phones, and forged documents including a fake Nagaland Aadhaar card.

The Chinese national had been residing in India illegally since his visa expired in 2020.

The accused also operated shell companies in Hong Kong and other jurisdictions to facilitate money laundering.