Who Are the Maxizone Touch Directors Arrested in the Rs 307 Crore MLM Scam?
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Synopsis
The recent arrest of Maxizone Touch directors reveals a staggering Rs 307 crore multi-level marketing scam. With numerous FIRs filed across states, the investigation highlights a web of deceit aimed at swindling investors. This case raises critical questions about the safety of investments and the efficacy of regulatory measures.
Key Takeaways
- Arrests made linked to a Rs 307 crore MLM scam.
- Investigation reveals fraudulent practices promising high returns.
- Directors evaded law enforcement for nearly three years.
- Numerous FIRs filed across multiple states.
- Seizures include fake documents and cryptocurrency assets.
New Delhi, Dec 17 (NationPress) The Enforcement Directorate (ED) has taken into custody Chander Bhushan Singh and his spouse, Priyanka, who serve as Directors of M/s Maxizone Touch Pvt. Ltd., linked to a colossal Rs 307-crore multi-level marketing (MLM) fraud, the agency reported on Wednesday.
The arrests occurred on December 16 by the ED’s Ranchi Zonal Office under the Prevention of Money Laundering Act (PMLA), 2002, following a thorough investigation into the alleged misappropriation of public funds.
Investigators claim that the accused masterminded a deceptive MLM scheme that promised extraordinarily high monthly returns and enticing referral bonuses to attract unsuspecting investors. Allegedly, this model allowed the company to gather unauthorized deposits exceeding Rs 307 crore through at least 21 bank accounts, producing significant proceeds of crime.
According to the ED's press release, “Through this modus operandi, they amassed unauthorized deposits exceeding Rs 307 Crore across a minimum of 21 bank accounts, thereby generating considerable Proceeds of Crime (POC).”
The directors have reportedly fled with the funds and managed to elude law enforcement for nearly three years.
They are accused of avoiding police action across various states including Jharkhand, Rajasthan, Assam, and others, while laundering illicit proceeds through benami real estate transactions and large-scale cash conversions.
“To hide their identities and evade capture, the offenders were found utilizing fake identity documents, including the alias 'Deepak Singh', and frequently altering their locations,” the report stated.
The money laundering inquiry was initiated based on numerous FIRs filed by law enforcement in Jharkhand, Bihar, Uttar Pradesh, Rajasthan, and Karnataka for cheating and fraud against the company and its directors. The ED conducted searches on September 16 and December 3 at various locations including Delhi, Noida, Ghaziabad, Vaishali (Bihar), Meerut, Ranchi, and Dehradun under Section 17 of the PMLA.
During these operations, the agency seized fake identity documents, handwritten records of financial transactions, cash over Rs 10 lakh, cheque books, and digital gadgets like laptops and mobile phones.
Investigators also located cryptocurrency assets valued at USDT 15,000 and documentation related to multiple real estate properties.
The accused have been remanded to five days of ED custody by the Special PMLA Court in Ranchi.
Further inquiries into the money trail and beneficiary network are currently ongoing.
Point of View
It is crucial to underscore the significance of regulatory vigilance in the financial sector. The arrest of the Maxizone Touch directors underscores a pressing need for stricter enforcement against fraudulent activities that exploit unsuspecting investors. NationPress remains committed to delivering transparent and accurate reporting on such critical issues.
NationPress
21/12/2025
Frequently Asked Questions
What is the Maxizone Touch scam about?
The Maxizone Touch scam involves a fraudulent multi-level marketing scheme that promised high returns to investors, resulting in unauthorized deposits exceeding Rs 307 crore.
Who were arrested in relation to this scam?
Chander Bhushan Singh and his wife, Priyanka, both Directors of M/s Maxizone Touch Pvt. Ltd., were arrested by the Enforcement Directorate.
What actions were taken by the ED?
The ED conducted searches, seized documents and digital devices, and initiated a money laundering investigation based on multiple FIRs filed across various states.
What is the current status of the accused?
The accused have been remanded to five days of ED custody by the Special PMLA Court in Ranchi.
What are the implications of this scam?
This scam raises concerns about investor safety and highlights the need for regulatory oversight in the MLM sector.
