New Delhi (23.12.2021): The Central Bureau of Investigation (CBI) has unearthed a major financial fraud and arrested 11 accused from Delhi, Chandigarh, Kolkata, and Bhubaneshwar during the investigation of a case related to the alleged collection of around Rs 60,000 crore from around 5.5 crore investors from across the country. These accused were illegally operating investment schemes, without any statutory approval, with a motive to dupe the investors.

A series of searches were conducted by CBI at the office premises and residences of Directors and other suspected places in Delhi, Jaipur (Rajasthan), Chandigarh, Punjab, and Haryana, which led to the recovery of huge records and data relating to deposits from the public and their mis-utilization and diversion of funds, besides other incriminating documents. The investigation also revealed that the accused persons fraudulently diverted the alleged funds collected under the aegis of Jaipur-based private company for purported investment in Australian companies. It has been alleged that 132.99 mn AUD (approx) was found to have been diverted to Australian companies.

It was alleged that the arrested accused were the co-conspirators in this scam, who aided the prime accused in illegally operating investment schemes for earning quick money, inducing investors to invest their funds in such investment schemes which offered lucrative returns to the investors and thereafter in the diversion of such funds through dubious means with the motive of misappropriation.