SHILLONG, JAN 17: The Directorate of Enforcement (ED), Shillong Sub Zonal Office, has filed a Supplementary Prosecution Complaint on January 16, against 13 accused persons in the Pearlvine International case under the Prevention of Money Laundering Act (PMLA), 2002.
The complaint alleges that the accused individuals were involved in a massive Ponzi scheme, defrauding investors of at least Rs. 395.35 crores.
Sources said ED initiated investigation on the basis of FIR registered by CID, Meghalaya Police based on a complaint by RBI, Shillong and Charge Sheet under various sections of IPC, 1860 against the persons involved in the ponzi scam perpetuated under the name of Pearlvine International, operated through the website www.pearlvine.com. It collected a minimum of Rs. 2,250 as membership fees and ran a ponzi scheme in India during its operations i.e. year 2018 to March 2023.
During this period, several seminars were organized 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. Investigation revealed that the total PoC collected in the name of Pearlvine International (www.pearlvine.com) is Rs.1,575 Crores and at least Rs. 395.35 Crores have been defrauded.
The Supplementary Prosecution Complaint filed by ED alleged that one Parvesh Saroha had hosted the website www.pearlvine.com. It is also alleged that Neeraj Kumar Gupta was the mastermind and had purchased the said website domain in November 2015 and he also conducted several seminars of Pearlvine International in India as well as in Thailand for promoting the ponzi scheme.
Sources further informed that the ED has already filed the Main Prosecution Complaint on 23.10.2024, wherein Parvesh Saroha, along with Sony Chyrmang and Khroborme Chyrmang, who were found to be promoting the said Ponzi scheme in the State of Meghalaya, has been arrayed as accused persons and the cognizance has been taken. The case is under trial.
The total attachment done by ED in this case so far is Rs. 54.98 Crore. Further investigation is under progress.
, Shillong Sub Zonal Office, has filed a Supplementary Prosecution Complaint on January 16, against 13 accused persons in the Pearlvine International case under the Prevention of Money Laundering Act (PMLA), 2002.){kind=link}