ED Arrests Maxizone Touch Directors in Rs 307-Crore MLM Case as Ranchi Court Grants Five Days' Custody

Overview

• The ED’s Ranchi Zonal Office arrested directors Chander Bhushan Singh and his wife Priyanka on December 16 under the PMLA, and a Special PMLA Court in Ranchi remanded them to five days of custody.
• The agency alleges the scheme collected unauthorised deposits of about Rs 307 crore across at least 21 bank accounts by promising high returns and referral benefits.
• Proceeds were allegedly laundered through benami real-estate purchases and large cash conversions, with investigators also noting the use of cryptocurrency holdings worth USDT 15,000.
• Searches on September 16 and December 3 across Delhi, Noida, Ghaziabad, Vaishali, Meerut, Ranchi and Dehradun recovered fake IDs, handwritten financial diaries, cash exceeding Rs 10 lakh, cheque books, digital devices and property documents.
• The ED says the accused evaded law enforcement for nearly three years using aliases, including 'Deepak Singh', and the probe stems from multiple FIRs filed in Jharkhand, Bihar, Uttar Pradesh, Rajasthan and Karnataka.