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.