EOW traced around Rs 19.49 crore believed to have been routed through the company and channelised the proceeds of the crime.
Alleged Dileep Kumar P arrested rom Thrissur in Kerala. (Photo: SNS)
The Economic Offences Wing (EOW) of Odisha police arrested a 35-year-old man from Kerala who was an active member of an international racket operating online betting applications from Dubai, officials said on Monday.
Dileep Kumar P, diploma holder in business management, was arrested from Thrissur in Kerala. Dileep, self-styled director of a Kerala-based shell company and founder of a charitable trust, had allegedly channelised the ill-gotten money of this scam.
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EOW traced around Rs 19.49 crore believed to have been routed through the company and channelised the proceeds of the crime.
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The arrested accused was produced before local court of JMFC, Chatakudy, Kerala and is being brought to Odisha on a 6-day transit remand for his production before the designated OPID court in Berhampur, it said.
The 18football.com is a hybrid model of fraud where a ponzi scheme (Multilevel Marketing) runs online giving a name of football betting/ gaming App. It’s an international scam running online from a website which has been registered in Hong Kong (China) and also operated from Dubai.
Investors were promised of lucrative benefits like 3 per cent daily compound return on investment, recharge bonus, referral bonus, extra bonus on the earnings of the down- line members, salary bonus, daily withdrawal option etc.
In order to promote and to allure the innocent public, the fraudsters were also taking up the promotional activities like some social works, charity etc. in the rural areas and giving it huge publicity so that people will consider this scheme as a bonafide organization.
The fraudsters although initially paid the promised return for some few days to the investors, yet in the latter stage when the membership increased, stopped making any payment and closed the app “18football.com”.
The fraud by 18football.com has got all India ramifications, and the fraud amount involved is suspected to be more than Rs.1000 crore, out of which EOW has been able to trace transactions of around Rs. 525 crore till now, EOW concluded.
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