📷 Image: Wikimedia Commons / শরদিন্দু ভট্টাচার্য্য
Crime
ED files prosecution complaint in ₹2,459 crore Ponzi scam affecting 35,000 investors
✍️ The Hindu
🗓 11 Oct 2026, 01:18 PM
👁 15
The Enforcement Directorate has lodged a prosecution complaint against the promoters of a ₹2,459 crore Ponzi scheme that duped more than 35,000 investors.
The Enforcement Directorate (ED) has formally filed a prosecution complaint against the individuals behind a massive Ponzi scheme that allegedly amassed ₹2,459 crore. The fraud is reported to have ensnared over 35,000 investors across the country, promising unrealistically high returns before collapsing.
According to the ED, the investigation uncovered that the promoters collected money from the public by assuring guaranteed profits, while the funds were largely used to pay earlier investors and finance personal expenditures. The agency’s complaint cites violations of the Prevention of Money Laundering Act and other financial statutes.
Legal proceedings are now set to commence, with the ED seeking to attach assets and recover losses for the duped investors. Authorities have warned that anyone found complicit could face stringent penalties, including imprisonment and hefty fines, as the case moves through the courts.
According to the ED, the investigation uncovered that the promoters collected money from the public by assuring guaranteed profits, while the funds were largely used to pay earlier investors and finance personal expenditures. The agency’s complaint cites violations of the Prevention of Money Laundering Act and other financial statutes.
Legal proceedings are now set to commence, with the ED seeking to attach assets and recover losses for the duped investors. Authorities have warned that anyone found complicit could face stringent penalties, including imprisonment and hefty fines, as the case moves through the courts.