New Delhi, March 5: The Enforcement Directorate (ED) has ramped up its investigation into a significant scam under the Prevention of Money Laundering Act (PMLA), 2002. On February 27, 2026, the ED conducted searches at eight locations across Mumbai and Chennai.
This operation targeted Atom Capital Private Limited and several related companies. The investigation revealed that Atom Capital, along with Optimus Financial Solutions Private Limited, Babli Investment Private Limited, and Supremus Angel, was operating a cartel.
Directors Satish Kumar, Sanjay Damani, Neeraj Nisar, Krish Vohra, Manish Soni, and Nisha Kumari allegedly lured innocent individuals into purchasing unlisted shares of NSE Limited. The accused promised rapid price increases and substantial profits for investors. Thousands of investors, enticed by these promises, entered into agreements to buy shares at a premium and paid large sums in advance. However, since NSE shares are not listed on any stock exchange, there is no control over their buying, selling, or delivery. The accused fraudulently misappropriated the funds collected from investors.
The investigation has uncovered that the profits from the scam were laundered through multiple bank accounts, leading to the acquisition of both movable and immovable assets. During the searches, several forged documents, asset details, and digital records were seized, revealing a clearer picture of the scam. The ED has frozen multiple bank and demat accounts of Satish Kumar, Sanjay Damani, and the associated companies under Section 17(1A) of the PMLA, as these accounts contained the proceeds of crime.
Victimized investors have lodged numerous complaints against the accused across the country. In some cases, local police have yet to file FIRs. The ED’s investigation is ongoing, and further actions are expected soon. This case exemplifies the fraud occurring among investors in the guise of unlisted shares.
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