India's Central Vigilance Commission (CVC) has launched an investigation into the TVI Express pyramid scheme, which reportedly cost hundreds of Central Railway Department employees thousands of rupees. Senior management within the department were implicated in recruiting staff into the scheme.
Seven months after the scam became public, reports indicated that only employees who filed written complaints against their superiors faced job losses. Officials allegedly pressured those who did lodge complaints to withdraw them.
Divisional Railway Manager Brijesh Dixit publicly urged victims to report being cheated. Despite this, key figures, including Deepak Soni, were identified for using their official positions to benefit from the scheme. No action was taken against them, reportedly due to their proximity to "top officials" within the Railway Department.
The Central Railway Department's internal investigation status remains unclear. Senior Divisional Personnel Officer BK Panigrahi stated the inquiry concluded, with the final report submitted to Senior Divisional Operating Manager Satyendra Kumar two weeks prior. Kumar, however, reported not receiving the document, despite both officials working in the same building.
The CVC, India's apex anti-corruption body, initiated its investigation after the Times of India pressed the issue. In March, the newspaper had raised the matter with the CVC. Section officer Suneja Janardanan confirmed the complaint was examined and forwarded to Chief Vigilance Officer AK Maitra, who also advises the Railway Board, for action.
The CVC, established in 1964, operates as an autonomous body monitoring vigilance activities across the Central Government. Meanwhile, India's Ministry of Finance has begun discussions on strengthening regulation for the country's collective investment schemes, a move that comes amidst widespread financial fraud.