ED arrests Digi Mudra Connect director in multi-crore My Victory Club investment fraud

NEW DELHI: The Enforcement Directorate (ED) has arrested Prakash Chand Jain, director of Digi Mudra Connect Pvt Ltd, from Rajasthan’s Jaipur in a multi-crore investment fraud linked to the My Victory Club app, the agency said on Wednesday.

The agency has found that hundreds of crores were collected from investors and diverted to promoters’ personal accounts and properties. “Searches across seven locations led to seizure of cash, incriminating documents and assets, while key accused Ravi Jain is suspected to have laundered proceeds abroad,” the agency said.