Central Bureau of Investigation (CBI) has registered 100 cases relating to Ponzi Schemes during the years 2019 to 2022 upto 30 June, involving 132 entities and 21 persons have been arrested by CBI in this regard, the minister said in a written reply to a question.
The Directorate of Enforcement (ED) has investigated 87 cases related to Ponzi Schemes under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) during the last 3 years and the current year. Eight persons have been arrested by ED in this regard.
The Serious Fraud Investigation Office (SFIO) has informed that it has been assigned investigation by the Ministry of Corporate Affairs (MCA) into the affairs of nine cases (five in 2019-20, one in 2020-21, and three in 2021-22) involving 85 companies during the last three years, which were allegedly engaged in fraudulent Chit Fund/ MultiLevel Marketing (MLM)/ Ponzi activities, the minister said in his reply. No arrest has been made in this regard by the SFIO.
The Reserve Bank of India (RBI) has received 1,540 complaints related to non-repayment of deposits and money collected for various kinds of Investment Schemes (964 in 2020-21, and 576 in 2021-22).
The Securities and Exchange Board of India (SEBI) has passed final orders against 29 unregistered Collective Investment Schemes (CIS) entities during the last four years (12 in 2018- 19, 10 in 2019-20, five in 2020-21 and two in 2021-22), the minister said.
