Panchkula: Special court frames charges in Rs 3,000 crore ponzi case: The Tribune India
Panchkula, September 29
A special court here framed charges in a 2019 money laundering case, amounting to nearly Rs 3,000 crore. Around 31 lakh investors were allegedly tricked through multi-level marketing by a Haryana-based company – Future Maker Life Care Private Limited – into a ponzi scheme.
The charges were made under Section 4, PMLA, read with Section 70 and Section 3 of the Act. The PMLA court, when formulating the charges, declared from 2015, the accused, through his directors Bansi Lal and Radhey Shyam, as well as others, directly or indirectly and with knowledge of cause, had engaged in fooling various people under the pretext of giving them unrealistic feedback and was actively linked to the proceeds of crime amounting to Rs2,959.46 crore.
Special Judge Dr Sushil Kumar Garg observed: âAs of 2015, all defendants entered into a criminal conspiracy by knowingly engaging and assistingâ¦ being a party and actually involved in the cheating processâ¦ and so deceived and duped various people.
The 22 defendants in the case, one of whom died, even bought real estate worth Rs 9,08,29,296, the court added. On April 6 this year, the court granted early bail to Bansi Lal and Radhe Shyam. Previously, the court also granted early bail to 10 other defendants, including Sunil Sharma, Deepak Sharma, Manish Grover, Ram Singh, Devi Lal, Suman Devi, Prem Kumar, Sona Devi, Sohan Lal and Bhateri Devi. – TNS