Chennai, October 31, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth approximately Rs 85.19 crore in connection with its money laundering investigation into Dream Makers Global Private Limited, which allegedly duped thousands of investors with promises of high daily returns and doubling their money within 150 days.
The ED’s Chennai office carried out the attachment under the Prevention of Money Laundering Act (PMLA), 2002, officials said on Saturday.
The investigation was initiated on the basis of a case registered by the Economic Offences Wing of the Tamil Nadu Police. Investigators alleged that the company collected deposits from the public through investment packages purportedly linked to software projects.
According to the agency, initial payments were made to attract more investors, but the scheme eventually defaulted, leaving depositors facing financial losses.
The ED identified the company’s late Managing Director, S. Sathish Kumar, Director Gunavathy and Manager Mugunthan Nair as key figures in the alleged fraud. The agency claimed that promotional meetings and assurances of high returns were used to persuade people to invest.
On June 30, investigators searched eight locations in Coimbatore and Krishnagiri in Tamil Nadu, as well as Malappuram and Thrissur in Kerala. Documents, diaries, digital records and property details were seized during the searches.
The agency alleged that funds presented as returns or commissions were used to acquire properties, vehicles and other personal assets. Investigators also identified bank accounts, fixed deposits and financial instruments allegedly linked to the accused and their associates.
The Dream Makers investigation is among several money laundering cases being pursued by the ED in Tamil Nadu.
In a separate operation, the agency’s Chennai Zonal Office-II searched 11 premises in Chennai, Coimbatore and Kolkata on September 1 in connection with the Hashpe cryptocurrency fraud case. The searches were conducted under the PMLA.
Another separate case concerns former Tamil Nadu Minister V. Senthil Balaji and alleged cash payments in exchange for jobs in state transport undertakings. The ED filed a charge sheet against him in August 2023 following an investigation based on three FIRs registered by the Chennai Central Crime Branch.
That case relates to alleged money laundering linked to recruitment during Balaji’s tenure as Transport Minister and is separate from both the Hashpe and Dream Makers investigations.
In the Dream Makers case, the attachment is provisional, and the agency’s allegations concern the collection of investors’ deposits and the alleged use of those funds to acquire assets.
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