Govt urged to penalise frauds : 31st dec24 ~ E-Pao! Headlines

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Govt urged to penalise frauds
Source: The Sangai Express

Imphal, December 30 2024: The All Manipur Ponzi Victims Group (AMPVG) has asked whether the Government has taken any action against any fraud involved in ponzi scams under Banning of Unregulated Deposit Scheme Act of 2019 popularly known as BUDS Act.

Speaking to the media at Manipur Press Club today, AMPVG spokesperson L Sorokumar urged the Government and its law enforcing agency to arrest the culprits who looted a large chunk of money from a number of people through a ponzi scheme and prevent further victimisation of people.

He said that their goal is to abolish the ponzi scheme from the soil of Manipur and to spread awareness about the BUDS Act as much as possible.

Saying that thousands of people have been conned of crores of rupees by groups such as Lamjingba, Salai, GMT, Birla, PANDAM, MDFI etc, he asked the Government to clarify what action has been taken up against the culprits of ponzi schemes.

He then urged the Government to understand the pain of the victims of the ponzi schemes and take up necessary actions to alleviate their suffering.

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