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Ex-Union minister seeks help for over 6 million people duped in Rs 60,000 cr ponzi scam

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Ex-Union minister seeks help for over 6 million people duped in Rs 60,000 cr ponzi scam

Chennai, Feb 4 (IANS) Former Union minister and Pattali Makkal Katchi (PMK) leader Anbumani Ramadoss has asked the central and state law enforcement agencies to work together to return the money to the people of the Rs 60,000 crore scam in which Pearl Agrotech Corporation Ltd (PACL) is allegedly involved.

PACL had raised money from the public, offering them huge returns, including ownership of the land against their investment. However, the PACL collected more than Rs 60,000 crore under various ponzi schemes.

Ramadoss, a former Union Cabinet Minister for Health and Family Welfare, said in a statement on Sunday that around 1 million people in Tamil Nadu and 6 million people in other states have lost money to PACL scam.

He said that the central and state governments must safeguard those affected in this scam so that they don’t get ruined financially.

Anbumani also said that close to one million people in Tamil Nadu have invested Rs 2,500 to Rs 10 lakh in PACL.

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He said that even after more than eight years, they are yet to get their money back and are struggling to raise money for the marriage and medical expenses of family members.

— IANS

aal/pgh

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