ED attaches Rs 85.19 crore assets in Dream Makers Global deposit scheme case
The ED has provisionally attached assets worth about Rs 85.19 crore in the case of Dream Makers Global Pvt Ltd, which the agency alleges promised depositors doubled money in 150 days.
Key points
- The ED's Chennai office has provisionally attached movable and immovable assets worth about Rs 85.19 crore in the Dream Makers Global Pvt Ltd case.
- The ED alleges about Rs 400 crore from investors reached three main bank accounts of the company, with promises of high daily returns and doubled money.
- The attachment must be confirmed by the PMLA Adjudicating Authority; the accused are presumed innocent until proven guilty in court.
Photo: Joe Mabel / Wikimedia Commons, CC BY-SA 4.0 (cropped). Representational image.
The Enforcement Directorate (ED) said on 31 October 2026 that its Chennai Zonal Office-II has provisionally attached movable and immovable assets worth about Rs 85.19 crore under the Prevention of Money Laundering Act (PMLA), 2002, in the case of Dream Makers Global Pvt Ltd (DMGPL) and others. The ED alleges that the company collected money from thousands of depositors with promises of high daily returns and doubling of investments in 150 days.
What Happened
The ED's case is based on an FIR registered by the Economic Offences Wing (EOW), Coimbatore, under the Indian Penal Code, the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 and the Banning of Unregulated Deposit Schemes Act, 2019.
According to the ED, DMGPL and its key managerial persons collected large sums from depositors in the name of investment in software projects and packages. The ED said returns were paid at first, but defaults followed, leading to heavy losses for depositors, and it alleges that the funds were diverted and misappropriated.
The ED has alleged that about Rs 400 crore from investors was credited to three main bank accounts of DMGPL. According to the agency, the money was then moved through several accounts in the names of the company and its key persons, and through agents, franchises and associated businesses, by inter-account transfers, cash withdrawals and payments to associates. The ED said its investigation identified purchases of property, vehicles, gold ornaments and other assets, as well as heavy commissions to agents.
The ED had searched and surveyed residential and business premises linked to DMGPL on 30 June 2026 and seized documents and electronic devices.
What It Means
A provisional attachment is a temporary freeze on assets the ED says are linked to the alleged offence; it must be confirmed by the PMLA Adjudicating Authority. Readers can report unauthorised deposit schemes on RBI's Sachet portal at https://sachet.rbi.org.in. The ED said further investigation is in progress.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
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Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate