Fri Jul 04 17:37:34 UTC 2025: **Summary:**

The Enforcement Directorate (ED) has arrested Rohit Vij, an alleged mastermind in a Chinese app investment fraud case, and conducted searches in Delhi. The fraud involved a Chinese app called ‘Loxam’ promising high returns, which was linked to a shell company, Xindai Technologies Private Limited. Vij is accused of helping convert and launder the ill-gotten gains through money changer entities, Ranjan Money Corp and KDS Forex, controlled by him, ultimately funneling the funds to Chinese perpetrators via ‘hawala’ channels. The ED alleges that Xindai Technologies laundered ₹171.47 crore, while Vij’s companies converted ₹903 crore in tainted money within seven months.

**News Article:**

**ED Arrests Alleged Mastermind in Chinese App Investment Scam**

**NEW DELHI, July 4, 2025** – The Enforcement Directorate (ED) has arrested Rohit Vij, an alleged key figure in a large-scale Chinese app investment fraud, following searches at five locations in Delhi on Friday. Vij is accused of facilitating the laundering of funds siphoned off through a fraudulent app called ‘Loxam,’ which promised investors exorbitant returns.

The ED’s investigation, stemming from a 2022 FIR filed by Hyderabad police, revealed a conspiracy between Chinese nationals and Indian accomplices to defraud individuals. The ‘Loxam’ app, falsely claiming affiliation with a reputable French multinational, collected investments through a shell company, Xindai Technologies Private Limited, controlled by a Chinese national known as Mr. Jack.

According to the ED, Vij and his associates at Delhi-based money changers, Ranjan Money Corp and KDS Forex, played a crucial role in converting the illicit funds into foreign currencies, primarily U.S. dollars and UAE dirhams. These funds were then allegedly channeled to the Chinese perpetrators through illegal ‘hawala’ networks.

The ED alleges that Xindai Technologies laundered ₹171.47 crore. However, the probe has uncovered a significantly larger operation. “Analysis of bank accounts of Ranjan Money Corp and KDS Forex showed that within a period of seven months, these entities, under the control and operation of Mr. Vij, have converted ₹903 crore of similar tainted money,” the ED stated.

Vij has been taken into five-day ED custody under the Prevention of Money Laundering Act (PMLA) for further questioning. The investigation is ongoing.

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