Enforcement Directorate (ED) from Delhi’s Indira Gandhi International Airport (IGI Airport) has arrested Sukhwinder Singh Kharur and Dimple Kharur, alleged masterminds of the Rs 3,558 crore scam. Both were trying to run away from the country, but they were stopped at the airport due to the look out circular (LOC).
According to ED officials, the arrest has been made under the ongoing money laundering investigation against Vuenow Marketing Services Ltd. and companies connected. After the arrest, a court of Jalandhar has sent both the accused to the custody of ED for further investigation.
What is the cloud particle scam?
The scam is known as ‘Cloud Particle Scam’, in which investors were implicated through false ‘SAIL and Lease-Back’ (SLB) model. The ED started its investigation after an FIR registered by the Gautam Budh Nagar (Noida) police in Uttar Pradesh based on the information provided by the agency. ED investigation revealed that Sukhwinder Singh Kharur, CEO and founder of Vyunau Group, along with his colleagues carried out this big scam.
Rs 3,558 crore cheated by investors
According to the ED, a huge amount was raised from investors in the name of Cloud Particle Technology, but its real business was either not or else it was shown exaggerated to mislead investors. The ED said, “Through this fake investment scheme, an amount of about Rs 3,558 crore was stunned by investors and it was used in non-commercial works.”