Mayank Dang and Tushar Dang, two businessmen from Delhi, are currently facing allegations of orchestrating a complex illegal remittance scheme valued at over ₹4,800 crore. This operation allegedly involved a network of Indian importers, hawala agents, and Chinese suppliers. Central to the accusations is the use of fraudulent invoices that reportedly facilitated the under-invoicing of imports.

The Dangs are said to have masterminded a sophisticated syndicate which involved manipulating trade documents to understate the value of goods imported into India. This practice allowed the syndicate to remit excess funds abroad under the guise of payment for imports. The involvement of Chinese suppliers in the scheme is particularly noteworthy, as it suggests an international dimension to the illegal activities.

The case highlights the use of hawala, an informal method of transferring money without any actual movement of funds. This system is often used to evade taxes and move money across borders without the oversight of regulatory bodies. The authorities allege that the Dangs and their associates capitalized on this system to siphon off funds illegally.

This incident has shed light on the vulnerabilities within trade and financial systems that can be exploited to launder money and conduct financial fraud. The authorities continue to investigate the full extent of the network and the various entities involved in order to clamp down on such illicit financial flows.