ED recovers documents in raids on firm in T.N., Kerala

The Enforcement Directorate (ED) has recovered documents, diaries, digital records, and property records during searches at eight locations in Tamil Nadu and Kerala, including Malappuram and Thrissur, in connection with an investigation into the alleged multi-level marketing and ponzi scheme run by Dream Makers Global Pvt. Ltd. (DMGPL).

The searches, conducted by the ED’s Chennai zonal office on June 30, 2026, under the Prevention of Money Laundering Act (PMLA), covered premises in Coimbatore, Krishnagiri, Malappuram, and Thrissur.

An ED statement said the seized records included details of properties allegedly acquired using commissions from the scheme.

The investigation was launched on the basis of an FIR registered by the Economic Offences Wing of the Tamil Nadu Police. According to an ED statement, DMGPL, its late managing director S. Sathish Kumar, director Gunavathy, and manager Mugunthan Nair collected hundreds of crores of rupees from thousands of investors by promising high returns and doubling their investments within 150 days through purported software projects. Although investors initially received returns, the payments later stopped, resulting in heavy losses.

The ED alleged that the proceeds were used to acquire properties, vehicles, and other assets. It said bank accounts, fixed deposits, and other financial instruments linked to the accused and their associates had already been frozen by other law enforcement agencies.