BotBro Chief Lavish Chaudhary to be Behind Bars Soon? Here’s the Inside Story!

The attempts to bring back Lavish Chaudhary alias “Nawab”, who has been accused of a large forex trading fraud across five states, to India have intensified. The issuance of an Interpol order signals the imminent arrest of the BotBro owner. As per news reports, Nawab is operating from Abu Dhabi along with many of his associates. He also owns the Abu Dhabi Cricket-10 team and is allegedly driving forex trading operations across different countries.

A Sneak-Peek Into Forex Trading Fraud Episodes

If we go back in time, Lavish Chaudhary used to run a small grocery shop in his village. As time went on, he created a company (QFX) and began operating in forex trading. He is alleged to have mobilized investments from many people across Punjab, Himachal Pradesh, Goa, Gujarat and Haryana and defrauded them to the tune of approximately INR 210 crores. After collecting these alleged sums, he went to Dubai (Abu Dhabi) and reinvested the proceeds to establish new business ventures.

Himachal Pradesh Forex Trading Fraud Case

The Balh police station in Mandi District, Himachal Pradesh, registered a forex trading fraud complaint in November 2023. As a result, the Balh police arrested 11 accused. However, the three main accused - Sukhdev, Vineet Kumar and Rajendra Sood - absconded and are staying with Lavish Chaudhary overseas, as per the news report. One from the accused list has been serving judicial custody. The wife of Rajendra Sood, Neetu, is serving a judicial custody for nearly two years. The event unfolded with the complaint filed by an investor at the Chandigarh branch of the Enforcement Directorate (ED). The ED, subsequently, froze 45 properties in Zirakpur (Punjab) and other locations where the accused was linked. The ED seized properties worth INR 9.34 crore on court orders. The ED also nabbed the main agent in Punjab - Harjinder Singh.

Recent Arrests

A few weeks ago, Nawab Hasan, the main agent from Uttar Pradesh, was arrested. As per news reports, he allegedly used hawala channels to transfer funds collected from defrauded investors to Dubai. The raid conducted on his premises saw the seizure of INR 94.23 lakh. Lavish Chaudhary has already been issued a lockout notice by the Ministry of Home Affairs. And with the issuance of a blue notice by Interpol, expectations of him getting arrested have widened.

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