Cloud Particle Scam :ED arrests Vuenow founder Arif Nisar in Rs 178-crore cloud particle scam
Jalandhar ED arrests Vuenow founder Arif Nisar in Rs 178-crore cloud particle scam.In a significant crackdown on financial fraud, the Jalandhar unit of the Enforcement Directorate (ED) arrested Arif Nisar, the founder of Vuenow Marketing Services Ltd, in connection with a major money laundering case. The arrest took place on Tuesday following a search operation under the Prevention of Money Laundering Act (PMLA), 2002.
According to ED officials, Nisar was apprehended from a hotel near the Indira Gandhi International (IGI) Airport in Delhi and was subsequently taken to the Jalandhar ED office for further interrogation. He has been accused of orchestrating a large-scale investment fraud involving cloud particles, cheating investors, and laundering illicit funds through multiple entities. Following his arrest, Nisar was presented before the Special Court (PMLA) in Jalandhar, which remanded him to ED custody until March 4 for further investigation.Cloud Particle Scam
As per legal reports, Vuenow Marketing Services Ltd and its associated firms allegedly misled investors into investing in non-existent cloud particles, promising lucrative returns. Under the fraudulent model, investors were persuaded to buy cloud particles or data centre assets, which the company claimed would be leased back for profits. However, investigations revealed that these assets were insubstantial and did not exist.
Zebyte Infotech Pvt Ltd (ZIPL), one of the companies under scrutiny, reportedly engaged in fraudulent transactions by showing fake purchases of servers from shell companies. The funds acquired through these illicit deals were then funneled into other bogus entities to launder money. Reports suggest that Nisar played a crucial role in organising events to lure investors and perpetrate the scam.The case against Vuenow Marketing Services Ltd was initially registered by the Gautam Buddha Nagar Police in Noida under multiple sections of the Bharatiya Nyaya Sanhita (BNS), 2023. The ED’s investigation has uncovered that Vuenow, along with its associated firms, manipulated investors with false promises of high returns while having no real infrastructure to support their claims.Over he past several months, the ED Jalandhar has conducted extensive investigations into the case. On February 6, 2025, the agency provisionally attached six immovable properties, bank balances across 73 accounts, and 26 luxury vehicles, cumulatively valued at approximately Rs 178.12 crore. The ED confirmed the development through a post on its official X (formerly Twitter) handle.apart from Vuenow Marketing Services Ltd, several other entities have come under the ED’s radar. As per a report by Dainik Bhaskar, searches were conducted at over two dozen locations across Punjab, Haryana, and Mumbai, including cities such as Gurugram, Panchkula, Jind, Mohali, and Mumbai.
These Entities under investigation include: Big Boy Toyz (BBT), Mandeshi Foods Private Limited, Plankdot Private Limited, Byte Canvas LLP, Sky Verse and Sky Link Network.companies are suspected of being involved in laundering proceeds generated from fraudulent activities. The authorities allege that Vuenow and its linked firms used illicitly obtained funds to purchase high-end luxury vehicles and invest in real estate through shell companies.
Earlier, on November 26, 2024, multiple premises linked to Vuenow and its associated firms were raided by the ED under the provisions of the PMLA, 2002.
-With inputs from agencies , Nation News beuro report.
