Noida: The investigation into an alleged international hawala network busted by the Noida STF has expanded to several companies and bank accounts. During the custodial interrogation of Chinese national Liao Longhui and his two associates, investigators reportedly uncovered details of more than 20 suspected shell companies and bank accounts linked to them. Agencies are now examining the financial transactions of these entities and their alleged connections with businesses operating overseas.
According to the STF, the accused allegedly used documents belonging to employees and acquaintances to establish several companies. Bank accounts were subsequently opened in the names of these entities. Investigators suspect that the accounts were used to move funds under the cover of legitimate business transactions and channel money into the alleged hawala network.
Under-Invoicing Allegedly Used to Move Funds
The investigation has also revealed the suspected role of companies importing raw materials from China. According to the allegations, firms linked to the network declared the value of imported goods substantially below their actual value in official documents.
Investigators suspect that after the goods were sold in the Indian market, the difference between their actual value and the declared import value was routed to China through hawala channels. The alleged arrangement allowed the network to conceal part of the value of cross-border transactions while maintaining lower figures in import documents.
Investigators have also found references to companies based in Hong Kong. The STF is examining transactions between suspected shell companies established in India and entities operating overseas. Investigators suspect that funds were moved through multiple companies and bank accounts in an attempt to conceal their original source and the ultimate beneficiaries.
Three Accused Arrested on July 22
The Noida STF arrested Chinese national Liao Longhui, Sanjeev Kumar and Kaushlendra from Poorvanchal City Society in Sector 93 on July 22. During the operation, investigators recovered documents allegedly linked to fake companies and cheques worth around ₹4.72 crore drawn on various bank accounts.
The investigation also uncovered a major violation concerning Liao Longhui’s stay in India. His visa had expired in 2020, but he allegedly continued to remain in the country and operate the network. The STF is now examining his activities during the period of his alleged illegal stay, including his business dealings and financial transactions.
Based on information obtained during remand interrogation, investigators are identifying additional companies, bank accounts and individuals allegedly connected with the network. Particular attention is being paid to accounts that received large sums of money or were involved in transactions with overseas entities.
Four Bangladeshi Nationals Detained for Visa Violations
Meanwhile, authorities in Delhi have continued checks against foreign nationals allegedly violating visa regulations. The Central District Police conducted inspections at hotels in the Nabi Karim area of Paharganj under ‘Operation Vista 1.0’. Four Bangladeshi nationals allegedly found staying in violation of visa rules were detained.
The detained individuals were identified as Joharul Islam, 41, Kazi Mohammad Naimur Rahman, 25, Mohammad Muhit Uddin, 34, and Mahim, 21.
According to officials, the number of foreign nationals detained this month for alleged visa violations has reached 35. Of them, 31 have already been deported, while the deportation process for the remaining four is underway.
In both cases, investigators are focusing on documents, banking records and overseas links. The Noida investigation is expected to reveal further connections in the alleged international financial network, while authorities in Delhi continue to verify the documents and immigration status of foreign nationals.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
