ED arrests key accused in ‘cloud particles’ case
The HinduThe Enforcement Directorate has arrested Arif Nisar, founder of Vuenow Marketing Services Limited group, in connection with the “cloud particles “ case, said an agency official. The agency earlier found that the masterminds had been committing fraud on the pretext of selling the “cloud particles” to people and leasing them back on the assurance of providing rental income to the investors. “ED investigation revealed that Zebyte Infotech Private Limited and Zebyte Rental Planet Private Limited were rotating money of new investors to the old investors in the guise of sub-lease rent of cloud particles. “Accused Arif Nisar, who holds 75% shareholding in ZIPL, is a mentor and founder of VMSL group, and a close associate of Sukhvinder Singh Kharour, in connivance with other persons, generated proceeds of crime to the tune of thousands of crores.,” said the official.
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Key accused in Rs 3,558 crore 'cloud particle scam' arrested at Delhi airport
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