The Enforcement Directorate (ED) arrested a popular Instagram influencer with over 1.2 million followers, Sandeepa Virk. She has been accused of a Rs 40 crore money laundering scam through a fraudulent beauty brand. The case also involves a former director of Reliance Capital, Angarai Natarajan Sethuraman.
Search At Sethuraman's Residence
According to India Today, "Searches at Sethuraman’s residence revealed illegal communications with Virk and alleged fund diversion."
Reliance Capital Sanctions Home Loan
Apart from this, Reliance Capital sanctioned him a Rs 22-crore home loan, also in violation of prudential norms. Large portions of these loans remain unpaid and are suspected to have been siphoned off.
Sandeepa Creates Fake Website & Beauty Brand
According to the Enforcement Directorate (ED) investigation, Sandeepa used a fake website and beauty brand, promising FDA-approved beauty products, to scam people. The money collected in the scam was transferred abroad through various shell companies, according to the sources. Under the Prevention of Money Laundering Act (PMLA), 2002, the ED took Sandeepa into custody in Delhi.
How Did Sandeepa Attract Her Audience?
The ED investigation has also revealed that Sandeepa used her influential personality to attract many people to invest in her fraudulent beauty brand.
Was Virk's Lavish Lifestyle Funded Through Diverted Reliance Funds?
According to IndiaToday, the investigation is ongoing to probe whether Virk’s lavish lifestyle, prominently showcased to her massive social media following, was funded through diverted Reliance-linked funds and other fraudulent gains.
Sandeepa Is Produced In The Delhi Court
The ED has indicated stricter action in this case. An official statement said, “We are thoroughly investigating all aspects of this scam and will not spare the guilty.” Sandeepa was produced before a special PMLA court in Delhi, where her custody was approved.
