CBI arrests 11 people in connection with Rs 60,000 cr scam linked to Pearls group

New Delhi: The CBI has arrested 11 people in connection with around Rs 60,000 crore investment scam allegedly run by the Pearls group, officials said on Thursday. The arrests were made from Delhi, Chandigarh, Kolkata, Bhubaneswar among other places, the CBI said in a statement.

According to the probe agency, the case pertains to the alleged collection of around Rs 60,000 crore from around 5.5 crore investors across the country by operating different investment schemes, without any statutory approval and with a motive of duping the investors. "It was alleged that the arrested accused were the co-conspirators in this scam, who aided the prime accused and others in illegally operating investment schemes for earning quick and easy money," CBI spokesperson R C Joshi said.

They induced people to invest in such schemes which offered lucrative returns and thereafter aided the prime accused and others in the diversion of such funds through dubious means with the motive of misappropriation, he said. Those arrested include Pearls group executives Chander Bhushan Dhillon, Prem Seth, Manmohan Kamal Mahajan, Mohanlal Sehajpal and Kanwaljit Singh Toor, officials said.

Businessmen Praveen Kumar Agarwal, Mannoj Kumar Jain, Akash Agarwal, Anil Kumar Khemka Subhash Agarwal and Rajesh Agarwal were also arrested from Delhi, Chandigarh, Kolkata, Bhubaneshwar etc, they said.