Indian Scam: Pearls and Group

indian scam: For nearly two decades, the Pearls Group duped millions of some of India poorest people into investing about $10 billion into fake or worthless land leases, according to Australian Broadcasting Corporation. Authorities in India have begun seizing Pearls' assets there, and four Indian Pearls directors have been arrested on fraud charges. Related Story: Investigators track over $100m from Indian scam to Australia Related Story: Class action to freeze Pearls Group Gold Coast properties Map: Southport 4215 A Gold Coast resort subject to a class action relating to a multi-billion-dollar financial scam has been given the green light for sale by the Federal Court. The group is further alleged to have siphoned more than $100 million to Australia, including into the 2010 purchase of the Sheraton Mirage Resort on the Gold Coast for $62 million by one of its subsidiaries, Pearls Australasia, now known as Miiresorts Group. At a hearing in Brisbane, the court heard the Sheraton Mirage will be sold on July 29 to an undisclosed buyer for about $140 million. Shine Lawyers lodged a class action suit in the Federal Court of Australia on behalf of about 46,000 Indian investors, who collectively put more than $10 million into the scheme, and wanted Pearls' Gold Coast assets frozen. (news.financializer.com). As reported in the news.