Ranchi/New Delhi. The Directorate of Enforcement (ED), Ranchi Zonal Office, on 16 December 2025 arrested Chander Bhushan Singh and his wife Priyanka Singh, directors of M/s Maxizone Touch Pvt. Ltd., under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The arrests follow a large-scale multi-level marketing (MLM) fraud through which the accused allegedly siphoned off over ₹307 crore from the public.
According to the ED, the accused directors orchestrated the MLM scheme by luring investors with promises of high monthly returns and lucrative referral incentives. Deposits were collected across at least 21 bank accounts without authorization and later laundered into the financial system, constituting substantial Proceeds of Crime (POC).
Three-Year Evasion of Law Enforcement
Investigations revealed that the accused had evaded law enforcement for over three years, deliberately avoiding police and investigative agencies across multiple states. The couple allegedly converted public funds into benami assets and cash to conceal their tracks. To hide their identities, they were found to be using fake identification documents, adopting pseudonyms such as ‘Deepak Singh,’ and frequently changing locations.
The probe was initiated based on multiple FIRs lodged by police authorities in Jharkhand, Bihar, Uttar Pradesh, Rajasthan, and Karnataka, which accused the company and its directors of cheating the public.
Significant Evidence Unearthed During Raids
ED conducted search operations on 16 September 2025 and 3 December 2025 at multiple premises in Delhi, Noida, Ghaziabad, Vaishali (Bihar), Meerut, Ranchi, and Dehradun under Section 17 of PMLA. These operations led to the recovery of fake IDs, handwritten notes and diaries recording financial transactions, over ₹10 lakh in cash, records of associates, cheque books of multiple entities, digital evidence from laptops and mobile phones, cryptocurrency holdings worth USDT 15,000, and documents related to real estate properties.
The evidence revealed systematic efforts to conceal deposits, manipulate assets, and launder funds through a network of associates. The documents and digital records provided insights into the scope of asset diversion and cash movement, highlighting the elaborate mechanisms employed by the accused.
Judicial Custody and Legal Proceedings
Chander Bhushan Singh was remanded to five days of ED custody by the Hon’ble Special Court (PMLA), Ranchi, while legal proceedings against Priyanka Singh are ongoing. ED officials said the arrests send a strong message that MLM frauds and schemes defrauding the public can escalate into serious money laundering violations under PMLA.
Ongoing Investigation and Potential Actions
The agency emphasized that investigation is ongoing, with further asset attachment, scrutiny of financial records, and potential arrests expected in the coming weeks. ED is ensuring that all illegally acquired properties and proceeds of crime are brought under lawful control.
Experts note that this case underscores how financial frauds exploiting the public, combined with fake documents and digital mediums, pose a severe threat to both the financial system and investor security.
ED officials warned that all transactions and discovered assets will be verified transparently, and any attempts to manipulate or hide assets will be met with strict legal action. The agency is coordinating with financial institutions and other government departments to trace the full extent of the fraud and ensure accountability.
