ED raids

New Delhi, February 13, 2025: The Enforcement Directorate (ED) has frozen movable properties worth ₹170 crore, including balances in over 30 bank accounts linked to shell companies, in connection with a massive forex trading scam operated by QFX Trade Ltd. The crackdown follows raids conducted on February 11 under the Prevention of Money Laundering Act (PMLA), 2002, in Delhi, Noida, Rohtak (Haryana), and Shamli (Uttar Pradesh). The scam, orchestrated through multi-level marketing (MLM) tactics, involved directors Raiender Sood, Vineet Kumar, Santosh Kumar, and Nawab Ali alias Lavish Chaudhary, who promised investors high returns on forex trading.The investigation revealed that QFX…