Odisha EOW unearths App-based Ponzi scam
The investigating agency has frozen Rs 1.22 crore from accounts of the Ponzi App and sought removal of the App by Google Play.
The investigating agency has frozen Rs 1.22 crore from accounts of the Ponzi App and sought removal of the App by Google Play.
Ponzi scheme scam prime accused and IMA Jewellers founder Mansoor Khan was arrested last month in New Delhi by the Enforcement Directorate.
The CBI has booked Partha Chakraborti, the promoter of the company Chakra Infrastructure Limited, along with several others for alleged criminal conspiracy and cheating public to the tune of around Rs 87 crore.
Mansoor Khan was arrested early on Friday from the New Delhi airport on arrival from Dubai by the Delhi Police.
Khan, who is accused of perpetrating financial fraud worth crores in Bengaluru, was absconding for a month and was traced in Dubai and told to return to India.
Reddy, 51, was arrested and jailed on Sunday after the judge remanded him in 14-judicial custody for allegedly helping the two accused in the Ponzi scam from being investigated by the Enforcement Directorate.
The companies made false allotments of land to investors. However, the companies never owned any land in their own name.
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