The Enforcement Directorate executed a major breakthrough in a high-profile money laundering case by arresting Chander Bhushan Singh and his wife Priyanka, directors of Maxizone Touch Pvt Ltd, on Tuesday under the stringent provisions of the Prevention of Money Laundering Act, 2002. The couple's detention stems from allegations of orchestrating a sophisticated financial fraud that defrauded numerous investors of over Rs 307 crore through deceptive practices.

Investigations by the ED uncovered that the accused had devised an elaborate multi-level marketing scheme, luring victims with assurances of exorbitant monthly returns and attractive referral bonuses. Through this illicit operation, they reportedly collected unauthorized deposits via at least 21 bank accounts, amassing substantial criminal proceeds that were subsequently laundered to obscure their origins.

Following the accumulation of funds, the directors allegedly fled and evaded authorities for nearly three years, employing various tactics to remain fugitive. These included the use of counterfeit identity documents, adoption of an alias 'Deepak Singh' for Chander Bhushan Singh, and frequent relocations across multiple states to dodge capture by law enforcement agencies in Jharkhand, Rajasthan, and Assam.

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The money laundering probe was launched based on several First Information Reports filed by police in states including Jharkhand, Bihar, Uttar Pradesh, Rajasthan, and Karnataka, accusing the company and its directors of systematically cheating the public. Prior to the arrests, the ED conducted extensive search operations on September 16 and December 3 at premises in Delhi, Noida, Ghaziabad, Vaishali in Bihar, Meerut, Ranchi, and Dehradun, yielding critical evidence such as fake identities, incriminating diaries, cash over Rs 10 lakh, digital devices, cryptocurrency valued at USD 15,000, and documents linked to benami properties.

A Special Court under PMLA in Ranchi has granted five days of ED custody for Chander Bhushan Singh to facilitate further interrogation and recovery of assets. The case highlights the agency's resolute efforts to dismantle fraudulent schemes that exploit public trust and channel illicit funds into hidden investments.

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