New Delhi: In connection with the Rs 60,000 crore Pearls Ponzi Scheme case, the Central Bureau of Investigation (CBI) has detained 11 more people, including businessmen and Pearls Group staff.
"Employees of the Pearls Group Chander Bhushan Dhillon, Prem Seth, Manmohan Kamal Mahajan, Mohanlal Sehajpal, and Kanwaljit Singh Toor have been arrested. Apart from them, we detained businessmen Praveen Kumar Agarwal, Mannoj Kumar Jain, Akash Agarwal, Anil Kumar Khemka, Subhash Agarwal, and Rajesh from Delhi, Chandigarh, and Kolkata "According to a CBI official.
According to the official, the CBI had previously opened a preliminary investigation on the Supreme Court's orders into the Pearls Group, which had allegedly collected around Rs 60,000 crore from around five crore investors across the country by illegally operating various investment schemes without statutory approval with the intent to defraud them.
To entice the investors, the accused provided a land guarantee. The customers were promised that if they invested, they would receive a 12.5% interest rate. On their investments, they were offered free accidental insurance and a tax-free maturity. The defendants had also told the investors that the land they were buying would appreciate rapidly in value.
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