ED Arrests Director in Multi-Crore App-Based Investment Scam
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News18•28-01-2026, 20:00
ED Arrests Director in Multi-Crore App-Based Investment Scam
- •The Enforcement Directorate (ED) arrested Prakash Chand Jain, director of Jaipur-based Digi Mudra Connect Private Limited, on money-laundering charges.
- •Jain's arrest is linked to an alleged online app-based multi-crore-rupee investment fraud.
- •The scam involved cheating thousands by promising high returns through the 'My Victory Club (MVC)' app.
- •Funds were allegedly diverted to personal accounts of promoters, directors, and for real-estate and overseas businesses.
- •The ED's probe follows FIRs in Madhya Pradesh, Rajasthan, Haryana, Odisha, and Maharashtra.
Why It Matters: ED arrested a company director for a multi-crore app-based investment scam, diverting funds for personal gain.
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