📷 Image: Wikimedia Commons / Unknown photographer
Crime
Punjab Tax Probe Leads to Hawala Case Against Two Chartered Accountants in Ludhiana
✍️ Amar Ujala · Punjab
🗓 25 Aug 2026, 08:22 AM
👁 4
The Punjab Income Tax Department’s investigation into a Rs 175.53 crore hawala scheme resulted in the Sarabha Nagar police filing charges against chartered accountants Rishabh Gupta and Lovpreet Singh.
The Income Tax Department of Punjab uncovered a hawala network that allegedly moved Rs 175.53 crore abroad through falsified documents and covert transfers. The probe, initiated after suspicious foreign remittance patterns were flagged, focused on a group of chartered accountants who allegedly facilitated the illegal flow of funds.
Following the department’s findings, the Sarabha Nagar police station in Ludhiana registered a criminal case against two chartered accountants, Rishabh Gupta and Lovpreet Singh. Both professionals are accused of preparing spurious paperwork and acting as intermediaries in the offshore transfer scheme.
Authorities said the investigation is ongoing and that the accused could face charges under the Prevention of Money‑Laundering Act and sections of the Indian Penal Code related to fraud. The case underscores heightened scrutiny of financial intermediaries in Punjab after a series of high‑value hawala allegations.
Following the department’s findings, the Sarabha Nagar police station in Ludhiana registered a criminal case against two chartered accountants, Rishabh Gupta and Lovpreet Singh. Both professionals are accused of preparing spurious paperwork and acting as intermediaries in the offshore transfer scheme.
Authorities said the investigation is ongoing and that the accused could face charges under the Prevention of Money‑Laundering Act and sections of the Indian Penal Code related to fraud. The case underscores heightened scrutiny of financial intermediaries in Punjab after a series of high‑value hawala allegations.