Thu Jan 01 21:43:00 UTC 2026: Here’s a summary of the text, followed by a rewritten news article:

Summary:

The Indian newspaper, “The Hindu,” reports that the Enforcement Directorate (ED) conducted raids at seven locations in Jaipur and Ajmer, Rajasthan, on January 1, 2026, in connection with a multi-level marketing scam allegedly perpetrated by Digi Mudra Connect Private Limited and its directors, Ravi Jain and Prakash Chand Jain. The ED seized ₹11.3 lakh in cash and property documents worth crores of rupees. The directors are accused of defrauding thousands of investors across multiple states by promising high returns on their cryptocurrency trading platform and app. Funds were allegedly diverted into personal accounts and used for real estate investments, including investments in Dubai by one of the directors, Ravi Jain, who is currently located in the UAE. The ED also found details of ₹38 Lakh in various bank accounts related to the accused.

News Article:

ED Raids Uncover Multi-Crore Crypto Scam in Rajasthan

Jaipur, January 2, 2026 – The Enforcement Directorate (ED) has cracked down on an alleged multi-level marketing scam, conducting raids at seven locations in Jaipur and Ajmer, Rajasthan. The operation targeted Digi Mudra Connect Private Limited and its directors, Ravi Jain and Prakash Chand Jain, who are accused of defrauding thousands of investors across multiple states.

The ED seized ₹11.3 lakh in cash and documents indicating ownership of immovable property worth crores of rupees. According to an ED spokesperson, the directors lured investors with promises of high returns on investments in their cryptocurrency trading platform and mobile application.

The investigation, initiated based on FIRs filed in Madhya Pradesh, Rajasthan, Haryana, Odisha, and Maharashtra, revealed that the accused diverted funds into personal accounts and used them for real estate investments. One of the directors, Ravi Jain, is reportedly residing in the United Arab Emirates and is accused of channeling funds to Dubai for real estate and other business ventures.

In addition to the cash seizure, the ED uncovered details of ₹38 Lakh held in various bank accounts linked to the accused individuals and entities. The investigation is ongoing, and further details are expected to be released as the ED continues to probe the extent of the alleged scam.

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