TV
The Odisha Economic Offences Wing (EOW), investigating the online ponzi-cum-betting racket being run under the name ‘18Football.Com’, has arrested director of a shell company from Rajasthan. The accused, Naveen Poriwar is said to be the director of Edudaddy Institute of Advance Studies Private Limited.
According to EOW, the company was used to channelize the ill-gotten money under the ponzi-cum-betting racket. Around Rs 11.74 Crore were routed using this company. The online ponzi-cum-betting racket was being run from China and Dubai. The accused Naveen Poriwar is a resident of Udaipur, Rajasthan. However, all his companies are based/ registered in Kerala.
The online ponzi-cum-betting racket operating under the name ‘18Football.Com’ had allegedly duped around 800 investors from Ganjam in Odisha and other parts of the country.
On February 22, the EOW had arrested two accused- Rustam Khan and Md. Hakim, who are the Directors of a shell company- Hakim & Rustam Fabrics Private Limited, Kolkata.
The Bureau of Immigration (BoI) had recently issued a Look Out Circular (LOC) against accused Md. Saif of Shaheen Bagh, Delhi, who is said to be the mastermind in an international ponzi-cum-betting racket.
As per senior EOW officials, 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 approximately Rs 300 crore till now.
(Reported by Alok Mohanty)
