ED chargesheets Pearls Group in ₹48,000 cr real estate scam

The Enforcement Directorate (ED) on Wednesday filed a chargesheet against Pearls Group and its chief Nirmal Singh Bhangoo for a Ponzi scheme worth over ₹48,000 crore. In 2016, CBI had arrested Bhangoo with three others for allegedly duping 5.5 crore investors in several states by making false land allotments. In January, ED attached Australia-based assets of Bhangoo worth ₹472 crore.