India News | Odisha Police Busts Rs 200 Crore Crypto-ponzi Scam, 3 Held
Get latest articles and stories on India at LatestLY. The Economic Offence Wing (EOW) of Odisha Police has unearthed a crypto-ponzi scam in which around 2.5 lakh people of eight states were defrauded of over Rs 200 crore, an official said on Friday.
Bhubaneswar, Nov 17 (PTI) The Economic Offence Wing (EOW) of Odisha Police has unearthed a crypto-ponzi scam in which around 2.5 lakh people of eight states were defrauded of over Rs 200 crore, an official said on Friday.
Three persons were arrested in this connection, including one who was captured from Rajasthan capital Jaipur while he was trying to flee to Dubai.
The two other accused were picked up from Bhubaneswar on Thursday, the EOW official said.
The arrested people were associated with a company, ‘Yes World Crypto Token', which swindled 2.5 lakh investors from Punjab, Rajasthan, Odisha, West Bengal, Haryana, Gujrat, Bihar and Jharkhand of more than Rs 200 crore with a promise of exceptionally high returns in a very short time.
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The EOW has launched an investigation into the scam on the basis of a complaint lodged by an investor in Puri town, the official said. To attract people, the company used to conduct publicity programmes at posh hotels in various places. This is the second crypto-ponzi scam since August unearthed by EOW. In that scam, over 2 lakh people from across the country were defrauded of Rs 1,000 crore. Four people allegedly involved in it were arrested.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)