In a major development, the Enforcement Directorate (ED) is preparing to formally register a money laundering case in connection with a massive Ponzi scheme allegedly orchestrated by Ravindranath Soni. The scandal, which has left a trail of financial ruin, is estimated to have duped more than 1,000 investors of a staggering Rs 970 crore across a dozen countries.
Investigation Gains Momentum with ED's Entry
Sources within the ED confirmed that the agency has wrapped up its preliminary inquiry and will soon lodge a case against Soni under the stringent Prevention of Money Laundering Act (PMLA). This move marks a significant escalation in the probe. The federal agency had earlier sought comprehensive details of the case from the Kanpur Commissionerate police, which has been investigating the matter.
A Special Investigation Team (SIT) of the Kanpur police, led by Additional DCP (Crime) Anjali Vishwakarma, has already compiled a substantial volume of evidence. This evidence includes intricate financial trails and alleged links to celebrities. Senior police officials have disclosed that all relevant documents have been shared with the ED to facilitate the money laundering investigation.
International Ramifications and Mounting Complaints
The case has serious international dimensions, with victims spread across India, the United Arab Emirates (UAE), the United States, and Japan. The fraud's wide net continues to ensnare more victims, as evidenced by two Dubai-based individuals who travelled to Kanpur just this past Friday to file formal complaints against Soni.
Sheikh Sabir from Andhra Pradesh alleged he was cheated of Rs 2.5 crore, while Srikant Raya Polu, a resident of Telangana, claimed losses amounting to Rs 4 crore. To date, a total of 14 First Information Reports (FIRs) have been registered against Delhi resident Ravindranath Soni and his associates.
Celebrity Links and Forensic Scrutiny
The investigation has also cast a spotlight on potential celebrity connections. Actor Suraj Jumani, who has been named as an accused in two cases, has not returned from Dubai despite repeated summons from authorities. Furthermore, the SIT is awaiting crucial statements from prominent actor Sonu Sood and former wrestler The Great Khali as part of its probe.
In a bid to uncover the full extent of the scheme, investigators are forensically examining electronic devices seized from Soni's residence in Dehradun. Officials have indicated that more high-profile names could emerge once the data analysis from these devices is complete.
The impending ED case under PMLA is expected to empower investigators to track and potentially attach the proceeds of the crime, aiming to provide some recourse for the hundreds of investors who have suffered monumental losses in this cross-border financial fraud.
