New Delhi [India], August 16 (ANI): The Enforcement Directorate (ED) has attached 14 land properties worth an estimated Rs 29.25 crore in Guwahati in the case of a fraud investment website by the name of www.pearlvine.com running under the banner of ‘Pearlvine International’, the agency said on Friday.
Guwahati Zonal Office of the ED attached these assets under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated an investigation based on the First Information Report (FIR) registered by the Criminal Investigation Department of Meghalaya Police based on a complaint by the Reserve Bank of India at Shillong and a charge sheet under various sections of the Indian Penal Code, 1860 against the persons involved in the scam perpetuated by Pearlvine International through the website mentioned above.
Pearlvine International was an unrecognised entity that claimed itself to be US-based and provided several lucrative investment options. It collected a minimum of Rs 2,250 as membership fees and ran a Ponzi scheme in India during the period 2018 till March 2023.
During this period, ED said, Pearlvine International organized seminars all around the country soliciting membership and popularising its benefits. At one point of time in 2022, Pearlvine International claimed a membership of 80 lakh members in India and abroad.
The 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.
“Neeraj Kumar Gupta also conducted several seminars of Pearlvine International in India as well as in Thailand,” said the ED.
“Investigations also revealed that the website designing and hosting of the above-stated website was done by one Parvesh Saroha. The Proceeds of Crime (POC) were mainly invested in landed properties, the agency said.
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 Saroha. (ANI)
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