ED cracks down on ₹3.78cr My Club Traders ponzi scam

Business Dec 19, 2025

The Enforcement Directorate (ED) has seized assets worth ₹3.78 crore from the My Club Traders scheme, run by Muhammed Faisal, Abu Sufiyan, and others.
They promised people 1% daily returns and extra bonuses for recruiting new members, all disguised as crypto and trading deals.
Money collected was funneled through shell companies to buy land, buildings, and other properties.

How the scam unraveled—and what's next

The case kicked off after several police complaints in Kerala about cheating and fraud.
On June 4, 2025, ED raided five places and found documents, investor lists, transaction records, and digital devices.
The scheme fell apart when new investments dried up—leaving earlier investors stuck.
Investigations are still ongoing as officials try to trace more assets.