The Directorate of Enforcement (ED), Ranchi Zonal Office, has filed a Prosecution Complaint under PMLA against M/s Maxizone Touch Pvt. Ltd. and its Directors in a ₹308 crore Ponzi fraud involving 16,927 investors, and attached properties worth ₹11 crore.
The complaint has been filed before the Hon’ble Special Court (CBI-cum-PMLA), Ranchi.
FIR-Based Money Laundering Probe
The investigation originates from FIRs registered at Sakchi and Govindpur Police Stations, Jamshedpur under IPC provisions.
The accused allegedly promised a lifelong monthly return of 15% to investors, stopped payments after collecting funds, and absconded. Both were declared Proclaimed Offenders on 03.03.2023.
Ponzi Model Without Genuine Business
ED found that the company conducted no actual trading activity and operated a classic Ponzi structure.
Funds from new investors were used to pay earlier investors. The accused misrepresented themselves as NSE Authorised Persons, while RBI confirmed the company had no NBFC registration, making its deposit-taking illegal from inception.
Financial Trail: ₹521.45 Crore Credits Traced
Forensic analysis identified ₹307.95 crore as Proceeds of Crime out of ₹521.45 crore total credits across 21 bank accounts.
Out of the total credits:
- ₹249.69 crore was recycled as investor “returns”.
- ₹58.27 crore was diverted into real estate, gold jewellery, and cryptocurrency (USDT).
Digital evidence from the laptop of Chander Bhushan Singh established the scale of the fraud impacting 16,927 investors.
Forged Identity and Evasion
During the absconding period, one accused forged an Aadhaar Card in the name “Deepak Singh” to evade detection.
Search, Seizure, and Arrest
ED conducted three rounds of searches at 27 premises across five States.
Seizures included incriminating documents, digital devices, gold jewellery, 14,757 USDT, and ₹10 lakh in cash.
Both Directors were arrested on 16.12.2025 under Section 19 of PMLA and are in judicial custody at Birsa Munda Central Jail, Ranchi.
Procedural Status
With the filing of the Prosecution Complaint and attachment of ₹11 crore worth of assets, proceedings have commenced before the Special Court (CBI-cum-PMLA), Ranchi. Further investigation is ongoing.
Key Facts
- ₹308 crore collected from 16,927 investors
- ₹307.95 crore identified as Proceeds of Crime
- ₹521.45 crore total credits traced across 21 bank accounts
- ₹58.27 crore diverted into assets and cryptocurrency
- ₹11 crore properties attached
- Directors arrested and in judicial custody
Source: ED Press Release dated 16/02/2026 regarding Maxizone Ponzi Case