Sun Pariwar Group accused of ₹158 crore ponzi scam, ED steps in
The Enforcement Directorate (ED) has filed a prosecution complaint for money laundering under the Prevention of Money Laundering Act (PMLA), 2002, against Sun Pariwar Vupadi Management Pvt Ltd, accusing promoter Methuku Ravinder and his close associates of running a ponzi scheme that cheated over 10,000 people out of ₹158 crore.
Investors were lured with promises of up to 100% annual returns through several companies under the Sun Pariwar Group.
What went down and where things stand
Funds were collected in cash at their Sangareddy office and used to buy properties for Ravinder, his family, and associates.
Even after getting bail in an earlier case, Ravinder allegedly launched new schemes under different company names with help from his associates.
On December 10, the Special PMLA Court took note of the case.
So far, the ED has attached assets worth ₹25.20 crore linked to the scam—including bank balances and properties—as investigations continue.