Chandigarh, March 1 The Directorate of Enforcement (ED) of Jalandhar office has arrested Sukhvinder Singh Kharour and Dimple Kharour on under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with money laundering investigation against Vuenow Marketing Services Ltd and related entities and persons.
Specific intelligence was gathered by ED that the duo were trying to fly out of India to escape from investigation. However, due to active Look out Circular (LoC) against them, they were detained at the IGI Airport in New Delhi and later on both were arrested under Sections 19 of the PMLA.
Both of the accused were produced before the Special Court of the PMLA in Jalandhar, which granted a 10-day custody of Sukhvinder Singh and five days of Dimple Kharour.
The ED initiated investigation on the basis of an FIR registered under various sections of the BNS of 2023 by Gautam Budh Nagar in Noida in Uttar Pradesh.
The FIR was registered on the basis of information shared by ED under Section 66(2) of the PMLA. The ED investigation revealed that Sukhvinder Singh, the CEO and Founder of Vuenow Group, is the alleged ‘mastermind’ of the scam, who in connivance with his close associates orchestrated multi-thousand crore rupees ‘Cloud Particle Scam’ where hard earned money of investors has been siphoned off by them for their personal gains.
The business of cloud particle, based on sale and lease back model (SLB model), was found substantively non-existent and grossly over stated to cheat the investors.
The proceeds of crime of Rs 3,558 crore (approximately ascertained so far) generated out of criminal activities were utilised for other than business purposes and further diverted by VMSL and group companies in giving high commissions to the channel partners, purchase of various luxurious vehicles, gold and diamonds, routing of funds to the tune of hundreds of crores through shell entities and investment in properties.
--IANS
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