ED Files Supplementary PMLA Complaint Against 13 Accused in Pearlvine Ponzi Scam

Background

The Directorate of Enforcement (ED), Shillong Sub-Zonal Office, has filed a Supplementary Prosecution Complaint (SPC) before the Special Court (PMLA), Shillong, on January 16, 2026, against 13 accused persons, including Neeraj Kumar Gupta, his associated companies, and other associates, in connection with the Pearlvine International Ponzi scam, under the Prevention of Money Laundering Act, 2002 (PMLA).

The ED initiated the investigation based on an FIR registered by CID, Meghalaya Police, following a complaint by the Reserve Bank of India (RBI), Shillong, and a charge sheet filed under various provisions of the Indian Penal Code, 1860. Pearlvine International allegedly operated a Ponzi scheme through its website www.pearlvine.com, collecting a minimum membership fee of Rs. 2,250 between 2018 and March 2023, during which it claimed to have up to 80 lakh members. The ED has quantified the Proceeds of Crime (PoC) at Rs. 1,575 crore, with at least Rs. 395.35 crore allegedly defrauded. According to the SPC, Neeraj Kumar Gupta, the alleged mastermind, exercised exclusive control over the platform and layered illicit funds through companies under his control, acquiring properties worth approximately Rs. 60.88 crore.

The ED has so far attached assets worth Rs. 54.98 crore. Further investigation is ongoing.