Overview

• Uttar Pradesh-based agent Navab Hassan was arrested under the PMLA and produced before a Special PMLA court, which remanded him to Enforcement Directorate custody for nine days.
• According to the ED, Hassan worked as a senior field leader ranked “Blue Diamond Executive,” building a network of more than 10,000 investors.
• The agency says the scheme promised 5–6% monthly returns via robot or AI-bot forex trading, collected funds through payment aggregators and USDT, then deleted investor IDs and stopped payouts.
• Hassan allegedly coordinated with Dubai-based masterminds including Lavish Chaudhary (alias Nawab), frequently traveled to the UAE, and joined Zoom calls to recruit and reassure investors.
• Earlier actions in the case include freezing Rs 391 crore across 185 bank accounts, attaching 45 properties worth Rs 9.49 crore, and recovering Rs 94.23 lakh from Hassan’s residence, with the probe focused on tracing proceeds and identifying remaining beneficiaries.