Visarev investors unite demanding justice


IMPHAL May 5: A seminar cum public meeting was held at the Gandhi Memorial Hall today deliberating on the course of action to be taken by the investors of Visarev for recouping their investments.

The meeting was organized by the Visarev Investors Association and the seminar was attended by academicians and intellectuals namely advocate Khaidem Mani, Professor of economics department M.U, Chinglen Meisnam, Editor of Sanaleipak A Mobi, general secretary of AMWJU Phillips and H Jayanta kumar, retired lecturer of DM college of science.

Advocate Khaidem Mani stressed on the issue that many illegal network schemes are operating in the state, though certain acts under the Indian constitution guarantees its citizens the right to conduct any profession of choice, the citizens cannot conduct any business which is against the interest of the state, like human trafficking, drugs and others which are against the interest of the state.

He further elaborated that the persons involved in carrying out the illegal pyramid schemes can be held accountable under the Money Laundering Act and a prison term of three years can be awarded to the accused as a penalty under the law.

He also referred to one network scam which happened at Tamil Nadu in which more than 18 lacs of the state populace were duped and more than Rs 1,400 crores collected illegally by the scamsters, however the scmasters were booked afterwards under the Tamil Nadu Act approved by the Supreme Court of India. He further added that the same Act can be implemented in the state by a decision of the state cabinet and the scamsters can be booked under the law.

Editor Ahongsangbam Mobi in his resolute address as moderator of the seminar said that the network schemes are perpetrated by con men and the schemes banks on the cooperation and trust of individuals and their close family friends. ` Not only money is lost but trust among friends, relatives are also lost, this is a serious issue and the state government needs to address it in the interest of the public, the government must act to recover the losses of the investors of the state, he said `.

The public meeting held after the seminar saw many disgruntled investors voicing their woes and the need to take up certain actions under which the culprits perpetrating the illegal schemes can be held accountable.

The investors expounded their sufferings and voiced that the absconding agents of Visarev should be held accountable.
Conclusively, the meet also resolved to urge the state government to pass a cabinet decision pertaining to the Money Laundering Act so that the perpetrators of the illegal network schemes can be booked under the law.

The association will intimate the concerned departments of the state and the centre to take up measures so that such network scams perpetrated through the internet cannot dupe the public and for the state cyber crime department to remain a constant vigil.

Further, it was also resolved to demand the absconding leaders to give their explanation in a public forum as to why the payments have not been made to the investors as so promised.

The association will take the help of the student bodies of other states like Bangalore Manipuri Students`™ Union, Delhi Manipuri Students`™ Association etc to hold agitations demanding the Visarev leaders in hiding to return to Manipur.

If the deadline given by the association to the Visarev leaders is not met with, then the association will lodge complaints to the concerned state police to arrest them. Further, the main accused one James, a resident of Malaysia and the brain behind the Visarev scheme will also be targeted for arrest by intimating the Indian embassy of Malysia through the state and central representatives. The resolve taken today will be submitted in a form of a memorandum to the Chief Minister O Ibobi for necessary action.

The Visarev Investors Association has been expanded today as per another resolve and as down lines of Kumar Kom, Viktor, Rk Chiranjeet, Robindro etc. who are the absconding leaders of Visarev , also joined the association as an endeavor to recoup the losses of the public. Finally, the meeting also resolved that the representatives of the association will facilitate operations to nab the accused culprits.


  1. this is shanthi from bangalore, have  also invested in visarev. I have filed fir in police station, but no action is taken.  Can somebody tell me what step to take further. my family investment is xx lacs.


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