New Delhi – Nirmal Singh Bhangoo, the primary accused in the massive Rs 45,000 crore Pearls Group scam, passed away on Sunday night in Delhi. Bhangoo, the head of the Pearl Group of Companies, was taken to the Deen Dayal Upadhyay (DDU) Hospital, where his death was recorded at 7:50 PM.
Bhangoo had been under arrest since January 2016, following his involvement in one of India’s largest financial scams, in which thousands of investors were duped. He had been lodged in Tihar Jail since his arrest by the Central Bureau of Investigation (CBI).
The Pearls Group scam, which defrauded investors of a staggering Rs 45,000 crore, remains one of the most notorious cases of financial fraud in the country. Bhangoo’s death marks the end of a key chapter in this ongoing investigation.