The Jaipur zonal team of the Enforcement Directorate (ED) on Tuesday (January 27, 2026) arrested Prakash Chand Jain, Director of M/s Digi Mudra Connect Private Limited, under PMLA in a major case of money laundering. After the arrest, Prakash Chand Jain was presented in the PMLA Special Court of Jaipur, where the court gave 4 days remand to the ED for further questioning.
Investigation started under FIR registered in many states of the country
ED had started this investigation on the basis of FIR registered in different districts of STF Bhopal, Madhya Pradesh, Rajasthan, Haryana, Odisha and Maharashtra. The names of Prakash Chand Jain, Ravi Jain and others had surfaced in these cases.
Investigation has revealed that the accused together defrauded thousands of people of crores of rupees. People were lured to invest through their mobile app and platform My Victory Club and were promised huge profits.
What was revealed in the ED investigation?
ED investigation has revealed that the accused collected hundreds of crores of rupees from investors. Instead of using this amount for the company’s work, a large part of it was transferred to the personal accounts of the directors, their family members, relatives and agents.
According to ED, this fraudulently earned money i.e. Proceeds of Crime was used by the accused to buy land, house and other properties in the name of themselves and their family. In this case, ED has already raided 7 locations linked to the accused on December 31, 2025.
Raids were conducted at 7 locations on December 31.
Many incriminating documents and digital evidence were recovered during these raids. Along with this, Rs 11.3 lakh in cash was seized, immovable properties worth crores of rupees were also discovered. About Rs 38 lakh was found in the bank accounts of the accused and their associated companies.
Ravi Jain is the main accused of scam in Dubai
During the investigation, it has also come to light that one of the main accused in this entire scam, Ravi Jain, is currently in Dubai. ED alleges that he sent the fraudulently earned money to Dubai and invested it in real estate and other businesses there. According to ED, the investigation of the case is still going on.
Also read: Parents were not ready to marry her Instagram lover, nurse daughter committed suicide by injection
