StockGuru: Court frames charges against accused

A special court here has framed cheating and other charges against StockGuru scam mastermind Ullas Prabhakar and others in a money laundering case relating to the multi-crore scam, saying prima facie offences were made out against them.

Special Judge Gurdeep Singh put on trial accused Prabhakar alias Lokeshwar Dev, his wife Priyanka Saraswat Dev, Nitin Sinha and five companies --M/s SGI Research & Analysis Ltd, M/s SGI Securities Pvt Ltd, M/s Beverages Ltd, M/s G3 Commodities Pvt Ltd and M/s Buildtech Ltd -- under sections of Prevention of Money Laundering Act (PMLA) and IPC.

According to the Enforcement Directorate (ED), there were over 2 lakh investors who had invested around Rs 493.94 crore in StockGuru.India.
Next Story
Share it