Shillong, Jan 21 (IANS) The Directorate of Enforcement (ED), Shillong Sub-Zonal Office, has filed a Supplementary Prosecution Complaint (SPC) against 13 accused persons, including alleged mastermind Neeraj Kumar Gupta, in connection with the Pearlvine International Ponzi scam involving proceeds of crime amounting to Rs 1,575 crore, officials said on Wednesday.

According to an official release, the SPC was filed on January 16, before the Special Court under the Prevention of Money Laundering Act (PMLA), 2002, in Shillong.

Besides Neeraj Kumar Gupta, the accused include his associated companies and close associates Naveen Kumar Gupta, Umesh Garg and Nitin Bharti.

According to the ED, the investigation was initiated on the basis of an FIR registered by the CID, Meghalaya Police, following a complaint lodged by the Reserve Bank of India (RBI), Shillong.

A charge sheet had earlier been filed under various sections of the Indian Penal Code, 1860, against those involved in the scam. Pearlvine International allegedly operated a Ponzi scheme through its website www.pearlvine.com between 2018 and March 2023, collecting a minimum membership fee of Rs 2,250 from investors.

During this period, the company organised several seminars across the country to solicit memberships and promote the scheme. At its peak in 2022, Pearlvine International claimed to have nearly 80 lakh members in India and abroad.

ED investigations revealed that while the total proceeds of crime generated through the scheme stood at Rs 1,575 crore, at least Rs 395.35 crore was directly defrauded from investors. The supplementary complaint alleges that Neeraj Kumar Gupta had purchased the Pearlvine website domain on November 28, 2015, through co-accused Parvesh Saroha and operated it until its closure in 2023.

The ED claimed Gupta had exclusive control over the website’s backend, user credentials, digital point allocations and overall operations, and that members across India functioned under his instructions. He also conducted promotional seminars in India and Thailand.

Further, the ED alleged that Gupta layered the proceeds of crime through his controlled firms – Speedwell IT Solutions Pvt Ltd, Shreehans Arts and Creations Pvt Ltd, and Shreehans Developments and Constructions Pvt Ltd – to acquire properties worth approximately Rs 60.88 crore.

Earlier, the ED had filed the main prosecution complaint on October 23, 2024, against Parvesh Saroha, Sony Chyrmang and Khroborme Chyrmang for promoting the scheme in Meghalaya. Cognisance has been taken, and the case is under trial. So far, assets worth Rs 54.98 crore have been attached in the case.

Further investigation is underway, the ED said.

–IANS

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