Jharkhand News : The Enforcement Directorate (ED), Ranchi Zonal Office, has taken major action in a massive ₹307 crore multi-level marketing (MLM) scam. The agency has arrested Chander Bhushan Singh, Director of Maxizone Touch Private Limited, and his wife Priyanka Singh under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Both accused have been sent to judicial custody.
According to the ED, the couple allegedly orchestrated a large-scale financial fraud by running a fake MLM scheme that promised unusually high monthly returns and attractive referral commissions to investors. Through this deceptive model, they reportedly collected illegal funds worth nearly ₹307 crore, which were deposited across more than 21 bank accounts. The agency has classified the amount as “proceeds of crime.”
Investigations revealed that after siphoning off public money, the accused absconded and evaded law enforcement agencies for nearly three years. They allegedly moved across several states, including Jharkhand, Rajasthan and Assam, to avoid arrest. To conceal their identities, the accused frequently changed locations and used forged identity documents. The ED stated that Chander Bhushan Singh also operated under aliases such as “Deepak Singh.”
The probe further uncovered that the accused attempted to launder the illegal funds by purchasing multiple real estate properties through benami transactions. These properties were later sold for cash to further obscure the money trail.
The ED initiated the investigation based on multiple FIRs registered across Jharkhand, Bihar, Uttar Pradesh, Rajasthan and Karnataka. As part of the probe, search operations were conducted on September 16, 2025, and December 3, 2025, at several locations including Delhi, Noida, Ghaziabad, Vaishali (Bihar), Meerut, Ranchi and Dehradun under Section 17 of the PMLA.
During the raids, officials seized fake identity documents, handwritten diaries, incriminating notes, over ₹10 lakh in cash, lists of associates, bank account records, laptops, mobile phones, cryptocurrency worth approximately USD 15,000 and documents related to multiple real estate assets.
The ED confirmed that Chander Bhushan Singh has been remanded to five days of ED custody by the Special PMLA Court in Ranchi. Further investigation is underway, and the agency suspects the involvement of more individuals in the scam.
