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New Delhi: The CBI have arrested Harchand Singh Gilldirector of a pearl group company that was expelled from Fiji The officials gave this information in connection with the alleged Rs 60,000 crore Ponzi scam by the parent company, officials said on Tuesday.
A team of CBI officers was flown to Suva in Fiji to bring Gill after he was deported from the archipelago.Operation Trishul‘ And he was arrested after he landed here, he said.
The operation was launched by the Central Bureau of Investigation (CBI) to bring back fugitives living abroad and around 30 fugitives were successfully brought to India under the operation since its launch last year.
The objective of the operation is to trace and bring back proceeds of crimes and fugitives with the help of Interpol.
Officials said Gill was absconding in the case and had a non-bailable warrant issued against him by a special court.
CBI gotred notice‘published against him through Interpol, he said.
The agency had launched a probe against Pearls Group and its founder Nirmal Singh Bhangu on February 19, 2014 for allegedly duping gullible investors of Rs 5.5 crore by offering them land in lieu of their investments.
The agency has alleged that the company siphoned off more than Rs 60,000 crore by duping investors across the country.
The CBI has alleged that Gill was a director and shareholder of PGF, a Pearl group company, and was accused of being present in the board meetings where all important decisions were taken.
A CBI spokesperson said Gill allegedly conspired with other directors of the company to operate the Collective Investment Scheme illegally without any statutory approval.
“These schemes were operating illegally and both the companies were allegedly involved in fraudulent activities including forgery in their day-to-day operations,” the spokesperson said.
According to the CBI, searches conducted by the agency in February 2014 at office premises and residences of directors and other suspected locations in Delhi, Jaipur (Rajasthan), Chandigarh, Punjab and Haryana led to the recovery of voluminous records and data relating to deposits. from the public and from incriminating documents other than their misuse and diversion of funds.
“The investigation has also revealed that the accused fraudulently diverted the alleged funds collected under the auspices of a Jaipur based private company for alleged investments in Australian companies. It is also alleged that AUD 132.99 million (approx) was transferred to Australian companies Found diverted.” CBI spokesperson said
The investors had reportedly not received any land allotment letter from the company and almost all the investors to whom the company had allotted land were not paid, he said, adding that most of the land was either non-existent or government land. Was or was not sold. Owner.
It was also alleged that there were over 23 lakh enrolled commission agents and over 1,700 of them were top level field associates and many of these top level commission agents were receiving monthly commission in lakhs of rupees.
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