Enforcement Directorate Seizes Assets Worth Over Rs 29 Crore in Ponzi Scheme Probe
Assets totaling more than Rs 29 crore have been seized by the Enforcement Directorate as part of a probe into an alleged Ponzi scheme run by Pearlvine International. The scheme, which operated under the guise of a US-based entity, amassed significant membership through nationwide seminars and fraudulent investment incentives.
![Enforcement Directorate Seizes Assets Worth Over Rs 29 Crore in Ponzi Scheme Probe](https://devdiscourse.blob.core.windows.net/aiimagegallery/11_07_2024_13_18_41_381734.png)
- Country:
- India
The Enforcement Directorate has attached assets exceeding Rs 29 crore in connection with its investigation into a fraudulent investment site operating as a Ponzi scheme across India.
The action targets Pearlvine International, alleged to have misled investors by touting lucrative investment options while collecting membership fees of Rs 2,250.
The case originated from a CID Meghalaya Police FIR, following a complaint by the RBI, partially driven by testimonials from individuals defrauded in multiple seminars organized nationwide.
(With inputs from agencies.)
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