ED Arrests Couple for Multi-Level Marketing Fraud Exceeding ₹300 Crore

Arrests Made in Major Fraud Case

The Enforcement Directorate (ED) has apprehended a man and his wife for allegedly defrauding individuals through a multi-level marketing scheme that amassed over ₹300 crore.

In a statement, the agency revealed that Chander Bhushan Singh, the director of a company named 'Maxizone Touch', along with his wife Priyanka, was taken into custody on Tuesday in Ranchi, Jharkhand, under the provisions of the Prevention of Money Laundering Act (PMLA). They had recently been held in judicial custody after being arrested by Jharkhand police a few months prior.

According to the statement, the couple is accused of executing a fraudulent multi-level marketing (MLM) scheme that lured people by promising high monthly returns and attractive benefits for recruiting others into the program. It is reported that they collected an unauthorized sum of ₹307 crore through this operation.

The ED noted that this couple was wanted by the police in Jharkhand, Rajasthan, and Assam for alleged fraud and had engaged in money laundering by acquiring various assets through anonymous transactions and converting deposited funds into cash.