Overview

• A Delhi court on July 4 remanded Rohit Vij to five-day Enforcement Directorate custody under the Prevention of Money Laundering Act.
• Investigators say the LOXAM app was a Chinese-controlled fraud vehicle that promised abnormally high returns and falsely claimed ties to a French multinational.
• Probe findings show tainted investor funds were funneled into Xindai Technologies and 38 mule accounts before being converted into US dollars and UAE dirhams.
• ED searches at five Delhi locations linked to Vij and his associates yielded incriminating documents and identified proceeds of crime.
• The agency is now analyzing seized financial records to map additional accomplices and secure asset recoveries across the cross-border laundering network.