New Delhi, Oct 17 (PTI) The Enforcement Directorate on Thursday conducted searches against a Noida-registered company that is alleged to have duped numerous investors in the garb of a data computing and cloud storage providing Ponzi scheme, official sources said.
About 13 premises of the company named VueNow and its promoters in Zirakpur in Punjab’s Mohali district, Delhi, Noida and Ghaziabad in Uttar Pradesh, and Mumbai are being searched by the Jalandhar office of the agency under the provisions of the Foreign Exchange Management Act (FEMA), the sources said.
An email sent by PTI seeking a response from the company on these allegations did not elicit a response immediately.
Sources said the ED suspects that the company allegedly duped investors in the name of providing cloud storage and data computing services.
Some overseas transactions made by the firm and its promoters are under the scanner of the federal probe agency. PTI NES RHL
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