Pearls Group's founder Nirmal Singh Bhangoo, arrested by the Central Bureau of Investigation (CBI) in a massive Rs 45,000 crore ponzi scam impacting more than five crore investors, has passed away at a hospital here, according to multiple reports.
As per reports, Bhangoo was admitted to Deen Dayal Upadhyay Hospital in west Delhi after his health deteriorated in the Tihar jail. An official confirmation was awaited from either the jail authorities or from the CBI.
Bhangoo and three others were arrested by the CBI in January 2016 for the alleged swindling of Rs 45,000 crore from over five crore investors through enticing land deals.
Last year, the Punjab government started the process of confiscating properties owned by Pearls Group in connection with the multi-crore chit fund case, to compensate the people by selling them.
The CBI, which has been investigating the scam since February 19, 2014, has alleged that thousands of crores were siphoned off by the two flagship companies of Pearls Group -- PGF Ltd and PACL Ltd -- by duping close to 5.50 crore investors from across the country by floating ponzi schemes.
The properties of the Pearls Group were identified in various districts in Punjab, and a legal process was initiated to acquire these properties.
The central agency had registered the case on directions from the Supreme Court. The CBI also arrested Harchand Singh Gill, a director of a Pearls Group, who was deported from Fiji under ‘Operation Trishul’. Gill was arrested on landing in New Delhi.
In November last year, a Delhi court also sent Sub-Inspector Rajesh Yadav to 14 days of judicial custody in connection with a bribery case linked to the ponzi scam. Yadav was arrested for allegedly accepting a bribe of Rs 4.5 lakh from an employee of Bhangoo to refrain from implicating his daughter and son-in-law in the ponzi scam case.
Shashi Tharoor to visit US, Owaisi heads to Saudi Arabia over Pahalgam attack
Senior Congress MP Shashi Tharoor will head to the US, while the AIMIM chief Asaduddin Owaisi will visit Saudi Arabia to expose Pakistan’s alleged involvement in the Pahalgam attack and to underline India's firm stance against terrorism.
MEA refutes Rahul Gandhi’s claim on Op-Sindoor: 'EAM was misquoted, no prior warning to Pak'
The Ministry of External Affairs (MEA) issued a statement on Saturday refuting claims that External Affairs Minister S. Jaishankar had asserted India informed Pakistan in advance about Operation Sindoor. The ministry denounced such assertions as a blatant distortion of facts.
Senior IPS officer Anurag appointed new Tripura Police Chief
The Tripura government, on Saturday, appointed Anurag Dhankar, an IPS officer of 1994 batch cadre, as the state's Director General of Police (DGP) replacing Amitabh Ranjan, officials said.
HM Amit Shah hails Operation Sindoor as a turning point in India's security doctrine
Home Minister Amit Shah, on a two-day visit to his home state Gujarat, said on Saturday that Operation Sindoor marked a historic shift in India’s national security response. He emphasised that under Prime Minister Narendra Modi’s decisive leadership, Indian armed forces struck deep into Pakistani territory, dismantling terrorist infrastructure.
India restricts entry of ready-made garments, processed food from Bangladesh
In a significant trade policy shift, India on Saturday restricted the import of ready-made garments (RMG), processed food and other items from Bangladesh to India via land ports, effective immediately.
NE region’s largest dairy unit inaugurated in Tripura to boost milk production
Northeast region’s largest dairy unit was jointly inaugurated in Tripura on Saturday by Tripura Chief Minister Manik Saha and Union Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh.
IT Ministry, Tripura DIT discuss AI’s role in citizen-focused governance framework
Senior government officials have underscored the pivotal role of artificial intelligence (AI) in revolutionising governance paradigms, reiterating AI’s growing relevance in enabling data-driven policymaking, augmenting service delivery mechanisms, and optimising administrative efficiency, IT Ministry said on Saturday.
Tripura Govt to establish three more general degree colleges
To ensure enhanced access to higher education, the BJP led coalition government in Tripura has decided to establish three new general degree colleges.