Youth dupes Rs 2.5 crore from investors promising double returns in 3 months

A youth, identified as Sashikanta Gochhayat from Balisahi village under Kendrapara’s Aul Police limits allegedly duped several people to the tune of Rs 2.5 crore promising to double their money in three months.

As per reports, Sashikant floated a Ponzi scheme and promised the investors in his village and around Aul to double whatever money they deposit in the scheme, in three months. However, the depositors grew suspicious after three months when they did not receive the promised returns.

Tried to trace Shashikant, but he was nowhere to be found. Angry after losing their money, locals, gheraoed his house in Balisahi on Wednesday and demanded his father, who is a retired Reserve Bank of India (RBI) employee, to return the money his son has taken.

Prabhat Kumar Barik, an investor said, “I collected Rs 7 lakh from the market and deposited with Sashikant. He promised me to double the money in three months. But after some months he never showed up neither returned the money.”

“The people from whom I collected the money have been asking me to return it, but I cannot return them as all the money is with Sashikant. I do not want double returns. I just want him to return what he took from me,” Barik said.

Speaking about his son, Sashikant’s father Bhabagrahi Gochhayat said, “People come to us and allege that my son has taken money from them and demand us to return the money. But I do not have any idea what it is all about and why they gave money to my son, if it is true at all.”

“I am a pensioner and living my life with whatever paltry pension I receive every month. How can I pay them such a big amount,” he said.

No complaints have been filed with the police in this connection yet.