The Odisha Economic Offences Wing (EOW) of the Crime Branch has arrested a Ponzi firm’s self-styled director in relation to an online betting racket which is reportedly active in Odisha and a few other states.
Naveen Poriwar, the accused, is also said to be the head of a shell company registered in Ernakulam, Kerala, while the arrest was made in Udaipur, Rajasthan. The shell company in the name of Edudaddy Institute of Advanced Studies Pvt. Ltd., was illegally used to channelize monies under the said online betting racket. The amount involved is reported to be around Rs 11.74 crore.
Poriwar, a resident of Udaipur in Rajasthan, is being brought to Odisha, after being produced in a local court in Udaipur.
The Odisha EOW has been actively busting betting rackets recently. In association with the investigation agency, it arrested two fraudsters from Howrah, West Bengal, wherein the online racket related to illegal gambling and betting application was busted earlier in February.
In another case, the Bureau of Immigration (BoI) at the request by the EOW of Odisha police issued a lookout notice against a person after complaints by around 800 people were made against him for defrauding them through an illegal gambling and betting app operated from Dubai. The aforementioned complainants are from Ganjam district, Odisha.
The transactions worth Rs 300 crore have already been identified in the case by the EOW but the total value of all transactions is expected to be around Rs 1000 crore.