Jalandhar, 26 February — The Enforcement Directorate (ED) has arrested Arif Nisar for his alleged role in a ₹2,200 crore investment scam involving the sale of cloud particles. He was taken into custody from a hotel near IGI Airport in Delhi and brought to the ED’s Jalandhar office on Tuesday morning.
Nisar, a 75% shareholder in Zebyte Infotech Pvt Ltd (ZIPL), was identified as a key figure in defrauding investors, according to ED investigations. Officials claim ZIPL fabricated purchases of servers through bogus firms and funneled illicit funds to shell entities. “He organized events to lure investors into buying cloud particles,” an ED official said. Records show he received ₹3.24 crore from four companies under scrutiny between January 2020 and December 2022.
He was presented before the PMLA court of Special Judge Nirbhow S Gill, where the ED secured his custody until March 4. The agency is probing four companies—Veunow Marketing Services Ltd (VMSL), ZIPL, VIPL, and ZRPPL—in connection with the scheme.
The case stems from an FIR registered by Gautam Budh Nagar police in Uttar Pradesh under various sections of the BNS.
In a search operation on January 17, the ED seized four SUVs, two bikes, and other assets from 11 locations, including Gurugram, Panchkula, Jind, Mohali, and Mumbai.
