Archive · 23 Dec 2025
ED Uncovers Pan-India Crypto Scam with 26 Fake Websites
The Enforcement Directorate (ED) has found a big scam where a company called Preeya Home Study Private Limited (PHSPL) and its directors were running a fake 'Earn While You Learn' scheme.
They promised online education and income opportunities but were actually running an illegal money circulation scheme.
They collected around Rs 70 crore from many people and used the money to buy land and properties.
The ED has attached properties worth Rs 3.06 crore.
Additionally, the ED uncovered 26 fake websites used by a pan-India syndicate to cheat investors by promising quick returns on crypto investments.
They targeted both Indian and foreign nationals, using social media and referral bonuses to attract more investors.
The accused used the money to create assets in India and abroad.
The Enforcement Directorate (ED) filed a chargesheet against Preeya Home Study Private Limited (PHSPL) and its directors for a fraudulent 'Earn While You Learn' scheme.
The company promised online education and income opportunities but was actually running an illegal money circulation scheme.
The ED's investigation revealed that the company collected around Rs 70 crore from lakhs of people.
Funds were used to purchase land and properties in the names of the company and family members of the directors.
The ED has attached properties worth Rs 3.06 crore in the case.
- Who
- Preeya Home Study Private Limited (PHSPL) and its directors: Mahesh Kumar, Satya Prakash, Sombir Poonia
- What
- A fraudulent 'Earn While You Learn' scheme and a pan-India crypto scam with 26 fake websites
- When
- The company was registered in 2002, and the ED filed a chargesheet recently
- Where
- Jaipur, Rajasthan, with operations affecting Rajasthan, Haryana, and other parts of India and abroad
- Why
- To defraud the public by promising online education, lucrative income, and astronomical returns on crypto investments, while operating illegal money circulation and MLM Ponzi schemes
- Company Name
- Preeya Home Study Private Limited (PHSPL)
- Accused Individuals
- Mahesh Kumar, Satya Prakash, Sombir Poonia
- Membership Fees
- Rs 5,800 to Rs 11,800
- Total Amount Laundered
- Rs 70 crore
- Properties Attached
- Rs 3.06 crore
- Number of Fake Websites
- 26
- Targeted Investors
- Indian and foreign nationals
- Modus Operandi
- MLM Ponzi scheme with referral bonuses
Sources
Probe Agency Files Chargesheet Against Operators Of Fake 'Earn While You Learn' Scheme
Crypto currency fraud: ED conducts raid in K'taka, Maharashtra & Delhi
Pan-India Crypto Scam: 26 Fake Sites Duping Investors with MLM Ponzi Returns
