**Title:** ED Arrests Maxizone Directors in Major Money Laundering Case
**Meta Description:** The Enforcement Directorate has arrested Chander Bhushan Singh and Priyanka Singh for their involvement in a large-scale financial fraud scheme.
**URL Slug:** ed-arrests-maxizone-directors-money-laundering
**Headline:** Enforcement Directorate Arrests Maxizone Touch Directors for Financial Fraud
The Enforcement Directorate (ED) has arrested Chander Bhushan Singh and his wife, Priyanka Singh, both directors of Maxizone Touch Pvt Ltd, under the Prevention of Money Laundering Act (PMLA), 2002. This action, taken on Tuesday, is part of an investigation into a significant financial fraud involving the alleged misappropriation of public funds.
The ED’s investigation uncovered that the couple had established a fraudulent multi-level marketing (MLM) scheme, luring individuals with promises of high monthly returns and attractive referral bonuses. Through this scheme, they allegedly mobilized unauthorized deposits exceeding Rs 307 crore across at least 21 bank accounts, generating substantial proceeds of crime.
After collecting these funds, the accused reportedly fled and evaded law enforcement for nearly three years, avoiding authorities in Jharkhand, Rajasthan, and Assam. Investigators discovered that the illicit proceeds were laundered through benami real estate investments and by converting deposits into cash. To evade capture, the couple allegedly used fake identity documents, operated under the alias ‘Deepak Singh,’ and frequently changed their locations.
The ED initiated its money laundering investigation based on multiple FIRs filed by police in Jharkhand, Bihar, Uttar Pradesh, Rajasthan, and Karnataka against the company and its directors for allegedly defrauding the public. Prior to the arrests, the agency conducted search operations on September 16 and December 3 at various locations, including Delhi, Noida, Ghaziabad, and Meerut.
During these searches, the ED seized fake identity cards, handwritten notes detailing financial transactions, over Rs 10 lakh in cash, information about associates, cheque books from various entities, digital devices, cryptocurrency holdings worth USD 15,000, and documents related to numerous real estate properties.
Chander Bhushan Singh has been remanded to five days of ED custody by a Special Court (PMLA) in Ranchi as the investigation continues.
**FAQ Section:**
**Q: What charges have been brought against Chander Bhushan Singh and Priyanka Singh?**
A: They have been arrested under the Prevention of Money Laundering Act for their involvement in a fraudulent multi-level marketing scheme that misappropriated public funds.