Multi-crore scam unearthed, claims KCP
Source: The Sangai Express

Imphal, October 10 2024: The proscribed KCP has claimed that its home affairs department unearthed a multi-crore Ponzi scheme run in the name of Radiant Finance by one Nepram Romeo Singh (50) s/o (Late) Nepram Lokeshwar Singh of Sagolband Nepram Menjor Leikai and his family with the aid of a gang of misled unemployed individuals.

Just like the modus operandi of the so called Manipur Development Financial Investment, the Radiant Finance was also being run by falsely promising huge returns on investment, part of which was used to pay hefty interest on earlier deposits, thus attracting more and more gullible individuals to invest in this unregistered, illegal financial company, the outfit said in a press release issued by its information and public relations secretary M Punsiba Meitei.

Having successfully investigated and ensured that nearly 100 victim investors of the so-called Manipur Development Financial Investment got a substantial amount of their money back, it said.

On the basis of a written complaint against the Radiant Finance and Nepram Romeo by over 75 victim investors with a total investment of around 9 crore rupees, the home affairs department of the party has been investigating the Ponzi scheme, which involves over Rs 40 crore and counting.

Investigation has revealed that a considerable amount of the investors' deposits was used to purchase immovable assets not only in his own name but also in the name of his family members who continue to enjoy a lavish lifestyle.

But unfortunately, for most of the victim investors, life has become topsy- turvy.

Recently, a female victim investor also tried to take her own life by consuming pesticide as she suffered repeated torture by her husband, who blamed her for ruining their family, the outfit said.

Given the brutal impact of the Radiant Finance scam on the victim investors, the Politburo Standing Committee of the Party has decided to punish Nepram Romeo Singh and his co-scamsters, including his wife and sisters at the earliest possible moment in the most befitting manner, it said.

It also warns against selling, buying or mortgaging any assets belonging to Nepram Romeo Singh, his wife, children and two sisters and other co-scamsters, particularly, his most trusted henchman, Mayanglambam Rabesh Meitei.

If anyone is found to have ignored this warning, he or she will also be punished accordingly, it added.

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