The Enforcement Directorate (ED) Jaipur zonal office has conducted extensive searches at seven locations in Jaipur and Ajmer districts in connection with an alleged multi-level marketing scam involving Digi Mudra Connect Private Limited and its two directors. ED recovered Rs.11.3 lakh in cash and immovable property documents worth lakhs of rupees.
Directors Ravi Jain and Prakash Chand Jain allegedly lured and induced gullible investors to invest in their fraudulent schemes by promising very high returns. An ED spokesperson said here on Thursday that the search operation was conducted amid heavy security deployment at various residential and business premises associated with the accused.
The ED has launched an investigation based on first information reports registered by the Special Task Force, Bhopal, Madhya Pradesh and other police stations in various districts of Rajasthan, Haryana, Odisha and Maharashtra.
The ED investigation revealed that the accused individuals in collusion duped lakhs of rupees from thousands of people by luring them to invest in their platform and mobile application which was allegedly involved in cryptocurrency trading.
“The amount invested by the credulous investors was diverted to the personal accounts of the promoters and directors of Digi Mudra Connect and their family members, relatives and agents. The proceeds of crime were used to acquire immovable property,” the ED spokesperson said.
During the searches, it was found that Ravi Jain, one of the main perpetrators of the crime, was in the United Arab Emirates and was funneling money to Dubai for real estate investments and various other business ventures.
Apart from recovering the amount of money, ED officials seized various incriminating documents and digital evidence and found available details of 38 Lakh in various bank accounts related to accused persons and entities.
Published – 02 Jan 2026 03:13 IST
