ED attaches Rs 29.25 crore of Ponzi scheme running company Pearvine

Guwahati 16 Aug: The Directorate of Enforcement (ED), Guwahati Zonal office on Friday provisionally attached assets worth Rs 29.25 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in the case of a fraud investment website by the name of www.pearlvine.com running under the banner of “Pearlvine International”.

With this, the total attachment done by ED in this case so far is Rs 37.07 crore, out of which ED had already attached properties worth Rs 7.82 crore earlier in respect of properties of Parvesh Saroha.

“The attached assets of Rs 29.25 crore are in the form of 14 number of landed properties,” an official statement of ED here said.

Basis on an FIR registered by CID, Meghalaya Police, the ED initiated an investigation on the complaint by RBI, Shillong and the charge sheet was filed under various sections of IPC, 1860 against the persons involved in the scam perpetuated by Pearlvine International through the website www.pearlvine.com. Pearlvine International was an unrecognized entity that claimed itself to be US-based and provided several lucrative investment options. It collected a minimum of Rs.2250 as membership fees and ran a ponzi scheme in India during the period 2018 till March 2023.

During this period, it organized seminars all around the country soliciting membership and popularizing its benefits. At one point of time in 2022, Pearlvine International claimed a membership of 80 lakh members in India and abroad.

“ED investigation revealed that Neeraj Kumar Gupta was the man behind the entire scam and had purchased the domain www.pearlvine.com in November 2015 itself. He also conducted several seminars of Pearlvine International in India as well as in Thailand,” the ED statement said.

The ED said investigations also revealed that the website designing and hosting of www.pearlvine.com was done by one Parvesh Saroha. The Proceeds of Crime (POC) were mainly invested in landed properties.

Hot this week

Pay hike of Assam ministers, MLAs likely as 3-member panel submits report

Full report likely by Oct 30 Guwahati Sept 25: There...

Meghalaya Biological Park Inaugurated After 25 Years: A New Chapter in Conservation and Education

Shillong, Nov 28: Though it took nearly 25 years...

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya man missing in Bangkok

Shillong, Jan 10: A 57-year-old Meghalaya resident, Mr. Treactchell...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

BJP slams Rahul over ‘abuses’ against PM

New Delhi/Patna, Aug 28: Alleging that abuses were hurled...

Sowjanya rape, murder case: Victim’s mother files fresh complaint before Dharmasthala SIT

Mangaluru (Karnataka), Aug 28: Kusumavati, mother of Sowjanya, a...

Excise revenue: Govt defers rollout of QR code system

Shillong, Aug 28: The state government has extended the...

‘Public support crucial to fight drug menace’

Shillong, Aug 28: Cabinet minister Kyrmen Shylla has asserted...

Mohan Bhagwat denies RSS role in picking BJP chief

New Delhi, Aug 28: RSS chief Mohan Bhagwat on...

Govt doing best to aid the flood-hit: Shylla

Shillong, Aug 28: Revenue and disaster management minister Kyrmen...

Three convicted in 2017 POCSO case

Shillong, Aug 28: The Ri Bhoi District Special Judge...
spot_img

Related Articles

Popular Categories