How a Punjab couple sold cloud space to run a Rs 3,500 crore scam

A special PMLA court in Jalandhar has remanded Sukhvinder Singh Kharour and Dimple Kharour to Enforcement Directorate (ED) custody following their arrest in a multi-level marketing fraud. Sukhvinder has been sent to 10 days in custody, while Dimple has been remanded for five days. The couple allegedly collected over Rs 3,500 crore from investors over the past two to three years by promising returns on purchasing and leasing cloud space, which ED found to be non-existent, a TOI report stated.

ED seizes assets worth Rs 178 crore

ED issued look-out notices after the couple went underground and seized at least 26 luxury cars worth Rs 80 crore last month. Other assets worth Rs 178 crore were also attached in Punjab as part of the investigation.

Money siphoned through shell entities

"The cloud sale and lease back model was found non-existent to cheat the investors. The proceeds of crime of Rs 3,558 crore (ascertained so far) generated out of criminal activities were diverted by VMSL (Vuenow Marketing Services Ltd) 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," ED said.


The agency revealed that multiple shell companies were created to divert the illicit funds. A significant portion of the money was transferred to Dimple's bank accounts and film production companies controlled by her, including Kharour Films LLP, Fruitchaat Entertainment Pvt, and Avni ITInfra Ventures Ltd. ED clarified that these companies had no connection with VMSL’s cloud particle business, which was used to lure investors.

Arrest made with international cooperation

The couple had evaded arrest in Punjab for an extended period despite multiple complaints of fraud. ED eventually registered an FIR in Noida and, with assistance from Uttar Pradesh Police, issued a look-out notice. "Sukhvinder, CEO and founder of Vuenow Group is 'mastermind' of the scam who in connivance with his close aides orchestrated the 'Cloud Particle Scam'," ED said. The accused were traced to Nepal with help from international enforcement agencies and later extradited to India.