CHANDIGARH: The four accused against whom Chandigarh district court issued bailable warrants in Rs 600-cr
ponzi scam have submitted anticipatory bail application to avoid arrest. The
Enforcement Directorate (ED) has added names of six more accused in the case.
The six accused are stated to be members of the same family. The Chandigarh district court had earlier issued notice to all the six accused and sought their replies. However, out of the six, four accused were served notices but they did not mark their presence in court following which the court issued them bailable warrants. The matter would come up for hearing on August 14. Earlier ED had filed chargesheet against six accused out of which the mastermind is stated to be in Malaysia and five have been declared as proclaimed offenders. Only one accused identified as Kamal K Bakshi was granted bail by Chandigarh district court last month.
The ED had seized assets worth Rs 4.18 crore in connection with its money laundering probe in a
Rs 600-crore Ponzi scam on July 29, 2017. The case is related to thousands of investors who were systematically lured and cheated by floating ponzi or pyramid schemes assuring exorbitant returns.
The names of 4 accused who have moved anticipatory bail are Arvind Kumar Singh, a resident of Paschim Vihar, New Delhi, Yogendra Pratap Singh, (brother-in-law of Arvind), a resident of Sector 49, Faridabad, Rita Singh, wife of Arvind, Parasnath Singh, a resident of Sector 49, Faridabad. The two other accused include Rakesh Singh, a resident Sector 49, Faridabad and Pankaj Singh, a resident of Sector 49, Faridabad (Haryana).
ED investigation revealed that Arvind was an agent of Unipay 2U Group of companies and between April, 2009 to January, 2011, he was involved in collecting hefty amounts from investors in the
ponzi scheme floated by Unipay2U Marketing Pvt. Ltd.
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