Punjab Couple Arrested in Massive Cloud Scam
NEW DELHI: A couple from Punjab has been arrested by the Enforcement Directorate (ED) for a multi-level marketing scheme that defrauded investors of over Rs 3,500 crore. The scam involved promises of high returns on cloud space rentals that were, in fact, non-existent.
The couple, Sukhvinder Singh Kharour and Dimple Kharour, were apprehended on Friday and have been remanded in ED custody. The ED is investigating how they allegedly collected the substantial sum over the past 2-3 years and diverted the funds. A special court in Jalandhar granted 10 days of custody for Sukhvinder and 5 days for Dimple.
After the couple went underground, the ED issued look-out notices. Authorities seized at least 26 luxury cars worth approximately Rs 80 crore. Other assets in Punjab, valued at Rs 178 crore, were also attached. Eventually, the couple was traced to Nepal and subsequently brought to India for arrest, according to sources.
ED officials revealed that the cloud sale and lease-back model was a fraudulent construct designed to deceive investors. “The proceeds of crime of Rs 3,558 crore…were diverted by Vuenow Marketing Services Ltd (VMSL) and group companies in giving commission to channel partners, purchase of various luxurious vehicles, gold and diamonds, routing of hundreds of crores through shell entities and further investment in properties,” the ED stated.
The accused reportedly created multiple shell companies to conceal the diverted funds. Significant sums were transferred into Dimple Kharour’s bank accounts and into film production units under her control, including Kharour Films LLP, Fruitchaat Entertainment Pvt, and Avni ITInfra Ventures Ltd. The ED emphasized that these companies had no connection to VMSL’s cloud particle business, which had collected the substantial investor funds.
The central agency had been actively seeking the couple, who managed to evade arrest in Punjab despite numerous fraud complaints. The ED finally registered an FIR in Noida and enlisted the assistance of the UP Police in issuing a look-out notice. Collaboration with international enforcement agencies helped track the couple to Nepal. Sukhvinder, identified as the CEO and founder of the Vuenow Group, is considered the “mastermind” of the scam.
The ED had previously conducted searches at several premises associated with Vuenow Marketing and its promoters on November 26, 2024, and January 17 and February 24 of this year. On February 6, the agency also attached assets amounting to Rs 178 crore.
