In a significant crackdown on financial fraud, the Enforcement Directorate (ED) has arrested Sukhvinder Singh Kharour and Dimple Kharour, the alleged masterminds behind the Rs 3,558 crore ‘cloud particle scam’. The pair were apprehended at Delhi’s IGI Airport while attempting to flee the country. Their detention came after specific intelligence led authorities to act on an active Look Out Circular (LoC), resulting in their arrest.
The investigation was sparked by an FIR filed by the Gautam Budh Nagar Police in Uttar Pradesh. According to authorities, Sukhvinder Singh Kharour, CEO and founder of Vuenow Group, was the driving force behind the large-scale fraud. This scheme, disguised under a ‘sale and lease-back’ (SLB) model, promised investors high returns based on an alleged cloud particle technology business. However, the technology was found to be mostly nonexistent, with funds being misappropriated for personal use.
Officials claim that investor money was funneled into personal accounts and shell companies, which were then used for luxury purchases and substantial commissions to channel partners. The ED also uncovered links between the diverted funds and businesses associated with Dimple Kharour, including Kharour Films LLP, Fruitchaat Entertainment Pvt Ltd, and Avnii T Infra Ventures Ltd—companies with no legitimate ties to the fraudulent operation.
Earlier, the ED had conducted multiple searches at locations tied to Vuenow Marketing Services Ltd. and its affiliates, recovering assets worth Rs 178.12 crore under the Prevention of Money Laundering Act (PMLA). The latest arrests follow the detention of another suspect, Arif Nisar, on February 24.
A court in Jalandhar has remanded Sukhvinder and Dimple Kharour to ED custody, where further investigation is underway to uncover the full extent of the scam and recover the stolen funds.
