PANAJI
The Enforcement Directorate (ED) has filed a prosecution complaint before the Special Court under the Prevention of Money Laundering Act (PMLA) in North Goa, against five accused in connection with an investment scam in which thousands of investors, many of them from Goa, were cheated.
The development comes following a complaint filed on July 28 by the ED’s Panaji Zonal Office against Krishan Kumar alias Vijay Kumar Jaiswal, his wife Rashmi Jaiswal -- both residents of Delhi -- and three companies promoted and controlled by the couple.
According to the ED, the accused had allegedly lured gullible investors into investing in fraudulent schemes by promising more than double returns and lucrative incentives. The Economic Offences Cell (EOC) of the Goa Police had first booked the accused in September 2022 after uncovering that the scam had duped over 2,000 investors and collected an estimated Rs 3 crore.
Jaiswal, a Haryana native and the managing director of Yudivo Private Limited, was arrested by the EOC in 2022 as the FIR stated he, along with nine others, had conspired to launch investment schemes to defraud the public. The schemes offered unrealistically high returns but failed to deliver on any of the promised payouts.
The accused were charged with cheating, criminal conspiracy, breach of trust, and misappropriation of funds.
The ED had initiated its probe based on the FIR registered by the EOC, under provisions of the PMLA.
