ED raids across Punjab and other states in connection with Pearls chit fund scam

Ludhiana: The Enforcement Directorate (ED) launched raids in Punjab and several other states on Friday morning, targeting individuals linked to the multi-crore Pearls chit fund scam. The extent of the findings will become clear by evening as investigations continue, with ED teams actively gathering evidence. Local police and security agencies are assisting to ensure the investigation proceeds without hindrance.

In Ludhiana, ED officials conducted surprise raids at multiple locations associated with prominent businessman and colonizer Vikas Pasi. His offices and properties were searched, and Pasi himself is currently being questioned. Pasi, who owns the company Apple Heights, is a well-known figure in Ludhiana’s real estate sector and operates from an office on Ferozepur Road.

Though the exact reasons for the raids have not been officially disclosed, sources suggest that Pasi had been on ED’s radar for some time due to a real estate deal. Authorities have refrained from commenting further on the ongoing operation.