ED Arrests Maxizone Directors in Rs 307 Crore MLM Scam

Ranchi: The Directorate of Enforcement (ED) in Ranchi on Tuesday arrested M/s Maxizone Touch Pvt. Ltd. directors Chander Bhushan Singh and his wife, Priyanka Singh, in the Rs 307 crore multi-level marketing (MLM) scam and money-laundering case.The accused were produced before a special PMLA court, which remanded Chander Bhushan to five days of ED custody for interrogation.In a press statement issued on Wednesday, the ED said the arrests were made in connection with a massive financial fraud involving the misappropriation of public funds. The investigation revealed that the accused allegedly ran a fraudulent scheme, luring the public with promises of high monthly returns and attractive benefits.The couple collected unauthorised deposits exceeding Rs 307 crore through at least 21 bank accounts and absconded with the funds. They evaded law enforcement agencies, including the Jharkhand, Rajasthan and Assam police, for the past three years by frequently changing their addresses and using fake identity documents, the sleuths said.The ED conducted search operations on Sept 16 and Dec 3 across Delhi, Noida, Ghaziabad, Vaishali (Bihar), Meerut, Ranchi, and Dehradun. Incriminating documents, including fake identity cards, handwritten notes and diaries detailing key financial transactions and cash dealings were seized.