{"id":"f-80ae245e0c-e9c3e15d-c365-5a49-8fc3-9799c0a4f27c","title":"ED arrests couple in Rs 300-crore Ponzi fraud case","description":"","timestamp":1765987981,"category":"business","headline":"ED arrests couple in Rs 300-crore Ponzi fraud case","modifiedHeadline":"Couple Arrested in Rs 300 Crore Ponzi Scheme","subCategories":["scid_6a7129b0"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"53","fcSummary":"The enforcement directorate arrested chander bhushan singh and his wife priyanka for allegedly orchestrating a multi-level marketing scheme, duping people of over rs 300 crore. They lured investors with high returns and referral benefits, collecting unauthorized deposits.","summary":"ED nabs couple in massive Rs 300-crore Ponzi scheme fraud. Victims left in financial ruin as investigation unfolds, seeking justice.","ctaUrl":"https://trends.glance.com/newz/news/IN/en/news18/f-80ae245e0c-e9c3e15d-c365-5a49-8fc3-9799c0a4f27c","sourceUrl":"https://www.news18.com/agency-feeds/ed-arrests-couple-in-rs-300-crore-ponzi-fraud-case-9776820.html","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/Ne643kW2GTi0.webp","content":"

New Delhi, Dec 17 (PTI) The Enforcement Directorate has arrested a man and his wife for allegedly duping people by orchestrating a multi-level marketing scheme involving more than Rs 300 crore.

Chander

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Bhushan Singh and his wife, Priyanka, directors of a company named Maxizone Touch, were taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) by the federal probe agency in Jharkhand’s Ranchi on Tuesday, the agency said in a statement.

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The two were till recently lodged in jail under judicial custody after they were arrested by Jharkhand Police a few months back.

According to the statement, the couple are accused of orchestrating a “fraudulent” multi-level marketing (MLM) scheme by luring people with promises of high monthly returns and attractive referral benefits.

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Through this modus operandi, they collected unauthorised deposits of Rs 307 crore, it said.

The ED said the couple were wanted by Jharkhand, Rajasthan and Assam police for the alleged fraud and they “laundered” the illicit funds by acquiring a number of properties through “benami” transactions and converting the deposits into cash.

The money laundering case stems from a clutch of FIRs filed by the police authorities in Jharkhand, Bihar, Uttar Pradesh, Rajasthan and Karnataka. PTI NES DIV DIV

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ED arrests couple in Rs 300-crore Ponzi fraud case

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