The Enforcement Directorate has arrested UP-based agent Navab Hassan for his alleged role in mobilising thousands of investors and laundering proceeds in the multi-state QFX forex scam. A local court has granted the agency nine days’ custody, officials said on Friday.

According to the officials, Hassan’s arrest under Section 19(1) of the Prevention of Money Laundering Act (PMLA), 2002, is part of a financial crackdown aimed at tracing the entire money trail, unmasking beneficiaries and preventing further layering of illicit funds.

The ED said its Chandigarh zonal office took action on the basis of multiple FIRs registered in Himachal Pradesh, Madhya Pradesh, Haryana, Uttar Pradesh and Assam. Investigations revealed the scam promised gullible investors monthly returns of 5–6 per cent thro

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