ED arrests Prayag Group promoters in ₹2,800 crore scam

The Enforcement Directorate (ED) arrested Basudeb and Avik Bagchi, promoters of Prayag Group, in a money laundering case related to a ₹2,800 crore chit fund scam. The duo is accused of defrauding investors with false high-return schemes. The ED is investigating asset recovery and unpaid dues of ₹1,900 crore.