Odisha’s Financial Offenses Wing (EOW) has arrested the nation head of “Sure World Crypto Token” named Sandeep Chowdhury (40) from Jaipur.
Chowdhury is a resident of Jhunjhunu, Rajasthan. The case was registered on October 16 below Sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and Part 6 of the Prize Cheats and Cash Circulation Scheme (Banning) Act, Odisha. Part 65 (c) of the Safety of Pursuits of Depositors Act and the Data Know-how Act.
Since he was absconding and more likely to flee the nation, the Bureau of Immigration (BOI) issued an LOC (Look Out Round) towards him on the request of EOW, Odisha.
When he was attempting to flee India to Dubai on November 15, he was intercepted by BOI at Jaipur Worldwide Airport and knowledgeable by EOW, Odisha. The EOW staff went to Jaipur and arrested the accused.
On November 16, he was produced in Jaipur native courtroom. The courtroom granted him a five-day transit remand. He has been dropped at Odisha, and will likely be produced earlier than the Hon’ble OPID Courtroom, Cuttack, Odisha. The EOW additionally arrested Vasant Kumar Pradhan and Manoj Kumar Patnaik from Bhubaneswar on November 16 who’re up-line members of Sure World in Odisha.
The case was registered on the criticism of 1 Swagat Kumar Nayak of Puri. He alleged that he had cheated Sandeep Chaudhary, Vasant Kumar, Manoj Kumar Patnaik and others of Sure World of round Rs.85,000.
Throughout investigation it was discovered that “Sure World” is operating an enormous ponzi or cash circulation scheme within the identify of crypto cash or tokens.
There isn’t any actual or related enterprise or exercise on the bottom of this app or firm however solely depends on pyramid ponzi scheme by including increasingly folks under them (often called downline members) by luring or fooling them with very excessive returns. In a really quick time.
Odisha alone has greater than 8,000 members or traders who’ve invested cash on this scheme. In Odisha, it’s primarily unfold in Bhubaneswar, Khordha, Bhadrak, Kendrapada, Jagatsinghpur, Keonjhar and Nayagarh. The scheme or rip-off has round 2.5 lakh members, primarily in North India.
Like every other Ponzi scheme, members initially get some monetary advantages, which entices extra members to hitch them. The whole quantity concerned in Sure World is estimated to be over Rs 200 crores.