Deepak Singla, a leader of the Aam Aadmi Party (AAP), was denied bail by a special court in Panchkula concerning a significant bank fraud and money laundering case involving alleged losses of ₹155 crore. The Enforcement Directorate (ED) arrested Singla on May 18, 2026, under the Prevention of Money Laundering Act, following a broader investigation into M/s Mahesh Timber Pvt Ltd. The ED claims that Singla and his associates fraudulently enhanced Foreign Letters of Credit through unauthorized amendments, resulting in substantial financial losses to banks. Investigators allege that nearly ₹195 crore was illicitly remitted overseas without any legitimate timber imports, supported by forged documents. Singla's defense argues that he is innocent and a victim of political vendetta, asserting his cooperation with authorities throughout the investigation. Despite this, the court has remanded him to judicial custody, while other co-accused have been released on bail. The ED continues to scrutinize the roles of all individuals involved in this case, which highlights a complex web of fraudulent financial activities.