ED Arrests Two Accused in Digital Ponzi Scheme Defrauding Investors in Gujarat, Maharashtra

The Enforcement Directorate arrested Sudhir and Umang Kotadiya from Gujarat for their alleged involvement in a digital Ponzi scheme defrauding investors of Rs 180-300 crore in Gujarat and Maharashtra. The accused fled to Dubai and returned via Nepal to evade investigation. The scheme, operated through multiple QFON-related entities, promised returns from online activities but used new investors' funds to pay earlier ones, with significant amounts siphoned off. They were remanded to ED custody until March 20.