Shell Companies Busted

The Madhya Pradesh police's cyber crime cell has arrested four persons in connection with an international racket involved in sending money to Pakistan through crypto currency using shell companies, a senior official said on Tuesday.

The CBI has unearthed a complex nexus of 339 shell companies used for allegedly diverting funds unscrupulously to the tune of Rs 2,900 crore as part of its investigation into such cases over the last three years.

Chinese authorities have uncovered an "underground bank" which illegally transferred money overseas in a case valued at $64 billion, said to be the country's largest ever, according to a police statement.

The Madhya Pradesh police's cyber crime cell has arrested four persons in connection with an international racket involved in sending money to Pakistan through crypto currency using shell companies, a senior official said on Tuesday.

The CBI has unearthed a complex nexus of 339 shell companies used for allegedly diverting funds unscrupulously to the tune of Rs 2,900 crore as part of its investigation into such cases over the last three years.

Chinese authorities have uncovered an "underground bank" which illegally transferred money overseas in a case valued at $64 billion, said to be the country's largest ever, according to a police statement.