LUCKNOW, July 23 -- The Uttar Pradesh Special Task Force (STF) has busted an alleged Chinese-led hawala and shell company network operating from Gautam Buddha Nagar (Noida). It arrested a Chinese national along with two Indian associates for allegedly laundering money through fake companies and illegal financial transactions across India, senior STF officials said on Thursday.

The three accused-Chinese national Liao Longhui, Sanjeev Kumar of Ghaziabad and Kaushlendra of Auraiya-were arrested from Sector-93, Noida, on Wednesday night following intelligence inputs about foreign nationals operating shell companies to facilitate hawala transactions and other financial crimes.

During searches, the STF recovered five laptops, nine mobile phon...