The Enforcement Directorate (ED) carried out extensive search operations across Jaipur and Ajmer on Wednesday, targeting locations linked to an alleged multi-level marketing (MLM) scam run by Digi Mudra Connect Pvt Ltd. The raids, conducted under the Prevention of Money Laundering Act (PMLA), led to the recovery of significant cash and property documents.
Widespread Searches and Major Seizures
ED teams launched simultaneous searches early in the morning at six locations in Jaipur and one in Ajmer. The operations were conducted amid heavy security deployment at both residential and business premises. By early evening, the federal agency had seized Rs 15 lakh in cash and documents related to immovable property valued at over Rs 15 crore.
The raids focused on upscale areas in Jaipur, including NRI Colony, C-Scheme, and Malviya Nagar. The premises searched are connected to individuals associated with Digi Mudra Connect Pvt Ltd: Prakash Chand Jain, Ravi Jain, Amit Jain, and Vivek Jain.
The Core of the Alleged Scam
The ED registered its money laundering case nearly two months ago, following multiple First Information Reports (FIRs) by the Rajasthan Police. The police acted on complaints from investors who alleged they were duped by the company's MLM scheme.
According to the probe, Digi Mudra Connect Pvt Ltd allegedly siphoned off crores of rupees from investors by luring them with promises of high and assured returns. Preliminary findings by the ED pointed to a large-scale diversion of funds collected from the public, which prompted the agency to intensify its investigation.
Key Accused Already in Custody
Prakash Chand Jain, the owner of Digi Mudra Connect Pvt Ltd, is currently lodged in jail following a case registered earlier by the Rajasthan Police. The ED's action under the PMLA is a separate legal proceeding focusing on the trail of the money generated from the alleged fraudulent scheme.
The agency's case is built on the predicate offence registered by the state police. The searches aimed to gather further evidence related to the proceeds of crime and to identify assets that could be attached in the future.
