ED Detains Two Individuals for Money Laundering at New Delhi Airport
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Synopsis
On March 1, the ED arrested Sukhvinder Singh and Dimple Kharour in connection with a money laundering probe linked to Vuenow Marketing Services Ltd. They were apprehended at IGI Airport as they attempted to leave India, and a court has granted custody for further investigation.
Key Takeaways
- Sukhvinder Singh Kharour and Dimple Kharour arrested for money laundering.
- Investigation linked to Vuenow Marketing Services Ltd.
- ED acted on intelligence regarding their attempt to flee.
- Authorities found a Cloud Particle Scam involving significant financial fraud.
- Proceeds of crime estimated at Rs 3,558 crore.
Chandigarh, March 1 (NationPress) The Directorate of Enforcement (ED) from Jalandhar has apprehended Sukhvinder Singh Kharour and Dimple Kharour under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. This action is part of an ongoing investigation into money laundering activities linked to Vuenow Marketing Services Ltd and associated entities and individuals.
Intelligence reports indicated that the pair were attempting to flee India to avoid scrutiny. However, due to an active Look out Circular (LoC) against them, they were intercepted at IGI Airport in New Delhi and subsequently arrested under Sections 19 of the PMLA.
Both individuals were presented before the Special Court of the PMLA in Jalandhar, which granted a 10-day custody for Sukhvinder and a 5-day custody for Dimple Kharour.
The investigation commenced following an FIR filed under various sections of the BNS of 2023 by Gautam Budh Nagar in Noida, Uttar Pradesh. The FIR was based on intel shared by the ED under Section 66(2) of the PMLA. The investigation uncovered that Sukhvinder Singh, the CEO and Founder of Vuenow Group, is the purported ‘mastermind’ behind the scheme, allegedly collaborating with close associates to execute a multi-thousand crore rupees ‘Cloud Particle Scam’, where the hard-earned money of investors has been misappropriated for personal benefits.
The cloud particle business, which relied on a sale and lease back model (SLB model), was found to be largely non-existent and grossly inflated to deceive investors.
Proceeds of crime amounting to approximately Rs 3,558 crore generated from these illegal activities were used for non-business purposes and further diverted by VMSL and its group companies to provide exorbitant commissions to channel partners, purchase luxury vehicles, gold, and diamonds, as well as funnel hundreds of crores through shell companies and invest in real estate.
