The Economic Offences Wing (EOW) of Odisha police’s crime branch may interrogate Bollywood actor Govinda in connection with a Rs 1,000-crore pan-India online ponzi scam.

This was said by EOW’s DSP Sasmita Sahu, who has been part of the team that is investigating the multi-crore ponzi scam involving Solar Techno Alliance (STA-Token).

The company, according to the EOW, was involved in illegally operating a pyramid-structured online ponzi scheme under the garb of crypto investment.

<a href="https://www.wionews.com/entertainment/bollywood/news-shah-rukh-khan-opens-up-about-his-bald-look-in-jawan-i-hope-girls-like-me-636135">Shah Rukh Khan opens up about his bald look in Jawan: I hope girls like me</a>

“We may issue summons to Govinda for appearing before the EOW for questioning or a team be sent to Mumbai for the purpose,” said Sahu, adding that the actor had attended STA’s grand function in Goa in July and promoted the company in some videos.

Stating that the EOW does not consider him as suspect or accused, another official said Govinda’s role in promoting the company is established from the video.

“If EOW finds that the actor’s role was limited to only endorsement of the product (STA-Token brand) as per their business agreement, then we will make him a witness in our case,” he said.

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The EOW had last month arrested the ponzi firm’s country head Gurtej Singh and its Odisha chief Norod Das.

On August 16, the investigating agency had apprehended Ratnakar Palai, an up-line member of STA having huge number of members below him (known as down-line members in the MLM/pyramid-based schemes/scams).

An official statement by the EOW said the company had reportedly collected Rs 30 crore from 10,000 people in Odisha’s Bhadrak, Keonjhar, Balasore, Mayurbhanj and Bhubaneswar.

Meanwhile, the Bureau of Immigration also issued a lookout circular against David Gez, a Hungarian national. He was heading the ponzi firm which allegedly lured people on social media to invest in crypto-currency and encouraged its members to enroll more investors.&nbsp;

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The Economic Offences Wing (EOW) of Odisha police’s crime branch may interrogate Bollywood actor Govinda in connection with a Rs 1,000-crore pan-India online ponzi scam.

The Economic Offences Wing (EOW) of Odisha police’s crime branch may interrogate Bollywood actor Govinda in connection with a Rs 1,000-crore pan-India online ponzi scam. This was said by EOW’s DSP Sasmita Sahu, who has been part of the team that is investigating the multi-crore ponzi scam involving Solar Techno Alliance (STA-Token). The company, according to the EOW, was involved in illegally operating a pyramid-structured online ponzi scheme under the garb of crypto investment. Shah Rukh Khan opens up about his bald look in Jawan: I hope girls like me “We may issue summons to Govinda for appearing before the EOW for questioning or a team be sent to Mumbai for the purpose,” said Sahu, adding that the actor had attended STA’s grand function in Goa in July and promoted the company in some videos. Stating that the EOW does not consider him as suspect or accused, another official said Govinda’s role in promoting the company is established from the video. “If EOW finds that the actor’s role was limited to only endorsement of the product (STA-Token brand) as per their business agreement, then we will make him a witness in our case,” he said. Tanaav, India's adaptation of Fauda, to return for season 2 The EOW had last month arrested the ponzi firm’s country head Gurtej Singh and its Odisha chief Norod Das. On August 16, the investigating agency had apprehended Ratnakar Palai, an up-line member of STA having huge number of members below him (known as down-line members in the MLM/pyramid-based schemes/scams). An official statement by the EOW said the company had reportedly collected Rs 30 crore from 10,000 people in Odisha’s Bhadrak, Keonjhar, Balasore, Mayurbhanj and Bhubaneswar. Meanwhile, the Bureau of Immigration also issued a lookout circular against David Gez, a Hungarian national. He was heading the ponzi firm which allegedly lured people on social media to invest in crypto-currency and encouraged its members to enroll more investors. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Odisha police may question actor Govinda in ponzi scam

A Thailand criminal court on Wednesday sentenced a couple to 12,640 years’ jail term each for duping people online in a Ponzi scheme under the guise of a savings plan, as per Straits Times.&nbsp;

The online crimes were committed by Wantanee Tippaveth and her husband Methi Chinpha in 2019 when&nbsp;the couple conned people online. However, it was just not the duo who ran this big scam to leach money off people.&nbsp;During the hearing of the trial, the couple confessed to their crimes and said that there were seven other people along with them who played a part to run the scam.&nbsp;

Also Read | <a href="https://www.wionews.com/india-news/exclusive-jaishankar-flags-need-for-adherence-respect-for-constitution-of-the-oceans-unclos-591885">EXCLUSIVE: Jaishankar flags need for adherence, respect for 'constitution of the oceans' UNCLOS</a>

The couple invited people on the social media platform Facebook between March and October 2019. They would urge people online to make investments in a savings scheme. To make it look appealing to people, they would promise that the investments will bring&nbsp;them 93 per cent returns.&nbsp;

To make it look real and to convince people of the 'veracity' of the fraud ponzi scheme, Wantanee would often posted online videos wherein she would show off her gold jewellery in a jewellery shop.&nbsp;

She would claim that she owned the shop. However, the jewellery turned out to be fake. In reality, it was not even a shop. It was a counter which the couple set up beside the room which is styled as an office space.&nbsp;

Also Read | <a href="https://www.wionews.com/world/portuguese-parliament-legalises-euthanasia-for-people-over-18-591849">Portuguese parliament legalises euthanasia for people over 18</a>

The court held the couple guilty of scamming millions of dollars from more than 2,000 people in the Ponzi scheme, an investment fraud that pays existing investors with funds collected from new investors.&nbsp;

One of the ways how the couple was able to fool people online is how they portrayed themselves online. Their posts were all curated in a manner that would make them appear to be super-rich people with lavish lifestyles. But everything was fake.&nbsp;

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It was not an ordinary scam as about 2,533 people joined the so-called savings scheme making them the victim.&nbsp;The people who joined the Ponzi scheme ended up making huge investments of about 1.3 billion baht (S$51.3 million).

<h2>Total jail for 20 years</h2>

The jail term of 12,640 years was commuted to 5,056 years by Thailand’s Criminal Court. The decision was taken by the court because Wantanee Tippaveth and her husband, Methi Chinpha, confessed to their crimes.

Now, both husband and wife are expected to be in prison for just two decades. It is because of the law in Thailand which puts a bar on the total jail time to 20 years each.

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A Thailand criminal court on Wednesday sentenced a couple to 12,640 years’ jail term each for duping people online in a Ponzi scheme under the guise of a savings plan, as per Straits Times.

A Thailand criminal court on Wednesday sentenced a couple to 12,640 years’ jail term each for duping people online in a Ponzi scheme under the guise of a savings plan, as per Straits Times. The online crimes were committed by Wantanee Tippaveth and her husband Methi Chinpha in 2019 when the couple conned people online. However, it was just not the duo who ran this big scam to leach money off people. During the hearing of the trial, the couple confessed to their crimes and said that there were seven other people along with them who played a part to run the scam. Also Read | EXCLUSIVE: Jaishankar flags need for adherence, respect for 'constitution of the oceans' UNCLOS The couple invited people on the social media platform Facebook between March and October 2019. They would urge people online to make investments in a savings scheme. To make it look appealing to people, they would promise that the investments will bring them 93 per cent returns. To make it look real and to convince people of the 'veracity' of the fraud ponzi scheme, Wantanee would often posted online videos wherein she would show off her gold jewellery in a jewellery shop. She would claim that she owned the shop. However, the jewellery turned out to be fake. In reality, it was not even a shop. It was a counter which the couple set up beside the room which is styled as an office space. Also Read | Portuguese parliament legalises euthanasia for people over 18 The court held the couple guilty of scamming millions of dollars from more than 2,000 people in the Ponzi scheme, an investment fraud that pays existing investors with funds collected from new investors. One of the ways how the couple was able to fool people online is how they portrayed themselves online. Their posts were all curated in a manner that would make them appear to be super-rich people with lavish lifestyles. But everything was fake. Watch | Exclusive: Talking Tennis with Stefanos Tsitsipas | Sports News × It was not an ordinary scam as about 2,533 people joined the so-called savings scheme making them the victim. The people who joined the Ponzi scheme ended up making huge investments of about 1.3 billion baht (S$51.3 million). Total jail for 20 years The jail term of 12,640 years was commuted to 5,056 years by Thailand’s Criminal Court. The decision was taken by the court because Wantanee Tippaveth and her husband, Methi Chinpha, confessed to their crimes. Now, both husband and wife are expected to be in prison for just two decades. It is because of the law in Thailand which puts a bar on the total jail time to 20 years each. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Thailand court sentences couple to over 12,000 years in jail for Ponzi scam

Additional Chief Metropolitan Magistrate (ACMM) court has reserves bail orders in Janardhan Reddy case for tomorrow, news agency ANI reported.&nbsp;

Ballari mining baron Janardhan Reddy was arrested by Bengaluru Central Crime Branch, in connection with Ambident Group alleged bribery case, on Sunday and was sent to <a href="http://www.wionews.com/india-news/ponzi-scheme-case-ballari-mining-baron-janardhan-reddy-sent-to-judicial-custody-till-november-24-176663">judicial custody until November 24</a>.&nbsp;

Additional CP Crime Branch, Alok Kumar, stated that the arrest has been made on the basis of "credible evidence and witnesses' statements".&nbsp;

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"We will produce him before the magistrate. We are going to recover the money and give it to the investors," Kumar added.&nbsp;

The Central Crime Branch also arrested Ali Khan, Reddy's close aide.&nbsp;

Additional Chief Metropolitan Magistrate (ACMM) court has reserves bail orders in Janardhan Reddy case for tomorrow, news agency ANI reported. Ballari mining baron Janardhan Reddy was arrested by Bengaluru Central Crime Branch, in connection with Ambident Group alleged bribery case, on Sunday and was sent to judicial custody until November 24.

Additional Chief Metropolitan Magistrate (ACMM) court has reserves bail orders in Janardhan Reddy case for tomorrow, news agency ANI reported. Ballari mining baron Janardhan Reddy was arrested by Bengaluru Central Crime Branch, in connection with Ambident Group alleged bribery case, on Sunday and was sent to judicial custody until November 24. Additional CP Crime Branch, Alok Kumar, stated that the arrest has been made on the basis of "credible evidence and witnesses' statements". #Bengaluru: Additional Chief Metropolitan Magistrate (ACMM) court reserves bail orders for tomorrow in Janardhan Reddy case. He was arrested by Bengaluru Central Crime Branch, in connection with Ambident Group alleged bribery case. — ANI (@ANI) November 13, 2018 × "We will produce him before the magistrate. We are going to recover the money and give it to the investors," Kumar added. The Central Crime Branch also arrested Ali Khan, Reddy's close aide.

Ponzi scheme case: Orders on Janardhan Reddy's bail plea reserved for Wednesday

After remaining elusive for three days, former Karnataka minister and mining baron G Janardhana Reddy Saturday appeared before the police here in connection with an alleged ponzi scam, and denied the allegations as a "political conspiracy".

Reddy, who the police said had been absconding, came in a car to the Central Crime Branch office, along with his advocates, after releasing a video message from an unknown location, saying he would appear before it.

After arriving at the office, Reddy claimed that there was a "political conspiracy" and added that he had faith in the police.

In his video message, he said he was not absconding and was very much in the city, while asserting that there was no need for him to flee.

"I have not committed anything wrong. The police do not have a single document to prove that I am wrong. They are misleading the media," he claimed in his message telecast by TV channels.

Reddy, who was a minister in the erstwhile Bharatiya Janata Party (BJP) government in Karnataka, said he never panicked as neither his name figured in the first information report (FIR) nor was any notice served on him.

"Now that the notice has been issued by the police, I have decided to appear before the Central Crime Branch today itself though the notice says I should appear on Sunday," Reddy said.

"I decided to make this video to let people know the truth. I have faith in the police and believe that they would not succumb to any political pressure," he added.

The CCB police had launched a hunt for him since Wednesday in connection with a money transaction worth crores of rupees, allegedly linked to a ponzi scheme.

The CCB was also on the lookout for Reddy's close aide, Ali Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd. -- a company accused of involvement in the ponzi scheme -- to bail him out from the Enforcement Directorate investigation.

Bengaluru Police Commissioner T Suneel Kumar had said on Wednesday that Reddy was absconding and the police were looking for him to question him in the case.&nbsp;

After remaining elusive for three days, former Karnataka minister and mining baron G Janardhana Reddy Saturday appeared before the police here in connection with an alleged ponzi scam, and denied the allegations as a "political conspiracy".

After remaining elusive for three days, former Karnataka minister and mining baron G Janardhana Reddy Saturday appeared before the police here in connection with an alleged ponzi scam, and denied the allegations as a "political conspiracy". Reddy, who the police said had been absconding, came in a car to the Central Crime Branch office, along with his advocates, after releasing a video message from an unknown location, saying he would appear before it. After arriving at the office, Reddy claimed that there was a "political conspiracy" and added that he had faith in the police. In his video message, he said he was not absconding and was very much in the city, while asserting that there was no need for him to flee. "I have not committed anything wrong. The police do not have a single document to prove that I am wrong. They are misleading the media," he claimed in his message telecast by TV channels. Reddy, who was a minister in the erstwhile Bharatiya Janata Party (BJP) government in Karnataka, said he never panicked as neither his name figured in the first information report (FIR) nor was any notice served on him. "Now that the notice has been issued by the police, I have decided to appear before the Central Crime Branch today itself though the notice says I should appear on Sunday," Reddy said. "I decided to make this video to let people know the truth. I have faith in the police and believe that they would not succumb to any political pressure," he added. The CCB police had launched a hunt for him since Wednesday in connection with a money transaction worth crores of rupees, allegedly linked to a ponzi scheme. The CCB was also on the lookout for Reddy's close aide, Ali Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd. -- a company accused of involvement in the ponzi scheme -- to bail him out from the Enforcement Directorate investigation. Bengaluru Police Commissioner T Suneel Kumar had said on Wednesday that Reddy was absconding and the police were looking for him to question him in the case.

Ponzi scam case: Mining baron Reddy appears before police for questioning

Ballari-based mining baron and former Karnataka minister G Janardhan Reddy was absconding as police were on the look out for him in connection with a money transaction worth crores of rupees allegedly linked to a ponzi scheme, top officials said Wednesday.

The Central Crime Branch police here is also hunting for Reddy's close aide Ali Khan, who allegedly struck a Rs 20 crore deal with Syed Ahmed Fareed of Ambidant Marketing pvt Ltd, a company accused of involvement in the ponzi scheme, to bail him out from Enforcement Directorate investigation.

Bengaluru Police Commissioner T Suneel Kumar said Reddy was absconding and police were looking for him to question him in connection with the case.

"Based on the information gathered the investigation is going on further...CCB is after Ali Khan and Janardhan Reddy," he told reporters.

CCB sleuths conducted a search at Reddy's Bengaluru residence and seized some documents, Deputy Commissioner of Police Girish S said.

He also said teams of CCB had gone to various places, but declined to divulge more details.

The development comes a day after Reddy's close confidant Sriramulu's sister J Shantha, a BJP candidate, lost in the by-polls from Ballari Lok Sabha constituency, considered a strong hold of the Reddy brothers.

The Congress won the seat breaking BJP's grip over Ballari since 2004.

However, Additional Commissioner of Police (Crime) Alok Kumar said there was no political connection to the probe.

He said his team had been working on the case for the last 20 days, but waited till November 3 for the bypolls to be over for further action, so that it was not politicised.

Reddy, a Minister during the previous BJP rule, had been arrested by the CBI in 2011 over alleged multi-crore illegal mining scam and granted bail three years later.

Ballari-based mining baron and former Karnataka minister G Janardhan Reddy was absconding as police were on the look out for him in connection with a money transaction worth crores of rupees allegedly linked to a ponzi scheme, top officials said Wednesday.

Ballari-based mining baron and former Karnataka minister G Janardhan Reddy was absconding as police were on the look out for him in connection with a money transaction worth crores of rupees allegedly linked to a ponzi scheme, top officials said Wednesday. The Central Crime Branch police here is also hunting for Reddy's close aide Ali Khan, who allegedly struck a Rs 20 crore deal with Syed Ahmed Fareed of Ambidant Marketing pvt Ltd, a company accused of involvement in the ponzi scheme, to bail him out from Enforcement Directorate investigation. Bengaluru Police Commissioner T Suneel Kumar said Reddy was absconding and police were looking for him to question him in connection with the case. "Based on the information gathered the investigation is going on further...CCB is after Ali Khan and Janardhan Reddy," he told reporters. CCB sleuths conducted a search at Reddy's Bengaluru residence and seized some documents, Deputy Commissioner of Police Girish S said. He also said teams of CCB had gone to various places, but declined to divulge more details. The development comes a day after Reddy's close confidant Sriramulu's sister J Shantha, a BJP candidate, lost in the by-polls from Ballari Lok Sabha constituency, considered a strong hold of the Reddy brothers. The Congress won the seat breaking BJP's grip over Ballari since 2004. However, Additional Commissioner of Police (Crime) Alok Kumar said there was no political connection to the probe. He said his team had been working on the case for the last 20 days, but waited till November 3 for the bypolls to be over for further action, so that it was not politicised. Reddy, a Minister during the previous BJP rule, had been arrested by the CBI in 2011 over alleged multi-crore illegal mining scam and granted bail three years later.

Police on look out for 'absconding' Janardhan Reddy in a ponzi scheme case 

The Enforcement Directorate(ED) today searched the premises of its ex-Deputy Director and others in connection with the money laundering probe in a Rs 600 crore alleged ponzi scam case.

The ED officials said the house of its former officer Gurnam Singh, advocate Puneet Sharma and an another person in Chandigarh and Mohali are being raided since Thursday morning, under provisions of the Prevention of the Money Laundering Act (PMLA).

Singh has been the investigating officer of the said Ponzi case and was relieved from the central probe agency by the Enforcement Directorate (ED) headquarter in Delhi last year in January.

Officials claimed that the ex-Deputy Director of the ED&#39;s Chandigarh zone was allegedly taking bribes, to the tune of about 4-6 crore, in purported connivance with Sharma in this case.

The raids have been launched to gather more evidence in this context, they said. ED Director Karnal Singh had issued stern directives in the agency that instances of corruption in the organisation will be prosecuted even if it is their own staffers.

The agency had conducted multiple searches in this case last year and it had also arrested the absconding agent of the alleged chit fund firm under scanner-- Kamal K Bakshi-- under the anti-money laundering law.

The case, the ED had said, pertains to thousands of investors who were &quot;systematically lured and cheated to the tune of more than Rs 600 crore by floating Ponzi or pyramid schemes assuring exorbitant returns&quot;.

It had said that the alleged &quot;mastermind&quot; of the scheme is a Malaysian identified as Mugundhan Gangam who floated two firms -- Ms Unipay 2U Marketing Private Limited and Unigateway2U Trading Private Limited -- in India.

Describing the modus operandi of the alleged cheating in this case, the agency said the early investors of the Ponzi schemes floated by the firm were paid exorbitant returns in order to win over their confidence.

&quot;When thousands of people across the country invested crores of rupees in the said Ponzi schemes, the companies stopped the payouts or monthly returns (since October, 2010) and gradually syphoned off crores of rupees of investors,&quot; it had said.

&quot;The company manipulated by using a web of bank accounts and layering of money through a plethora of such accounts,&quot; the ED alleged.

The agency had registered a criminal FIR in the case, based on an earlier complaint of other central investigative agencies.

The ED officials said the house of its former officer Gurnam Singh, advocate Puneet Sharma and an another person in Chandigarh and Mohali are being raided since morning.

The Enforcement Directorate(ED) today searched the premises of its ex-Deputy Director and others in connection with the money laundering probe in a Rs 600 crore alleged ponzi scam case. The ED officials said the house of its former officer Gurnam Singh, advocate Puneet Sharma and an another person in Chandigarh and Mohali are being raided since Thursday morning, under provisions of the Prevention of the Money Laundering Act (PMLA). Singh has been the investigating officer of the said Ponzi case and was relieved from the central probe agency by the Enforcement Directorate (ED) headquarter in Delhi last year in January. Officials claimed that the ex-Deputy Director of the ED's Chandigarh zone was allegedly taking bribes, to the tune of about 4-6 crore, in purported connivance with Sharma in this case. The raids have been launched to gather more evidence in this context, they said. ED Director Karnal Singh had issued stern directives in the agency that instances of corruption in the organisation will be prosecuted even if it is their own staffers. The agency had conducted multiple searches in this case last year and it had also arrested the absconding agent of the alleged chit fund firm under scanner-- Kamal K Bakshi-- under the anti-money laundering law. The case, the ED had said, pertains to thousands of investors who were "systematically lured and cheated to the tune of more than Rs 600 crore by floating Ponzi or pyramid schemes assuring exorbitant returns". It had said that the alleged "mastermind" of the scheme is a Malaysian identified as Mugundhan Gangam who floated two firms -- Ms Unipay 2U Marketing Private Limited and Unigateway2U Trading Private Limited -- in India. Describing the modus operandi of the alleged cheating in this case, the agency said the early investors of the Ponzi schemes floated by the firm were paid exorbitant returns in order to win over their confidence. "When thousands of people across the country invested crores of rupees in the said Ponzi schemes, the companies stopped the payouts or monthly returns (since October, 2010) and gradually syphoned off crores of rupees of investors," it had said. "The company manipulated by using a web of bank accounts and layering of money through a plethora of such accounts," the ED alleged. The agency had registered a criminal FIR in the case, based on an earlier complaint of other central investigative agencies.

Enforcement Directorate searches premises of ex-deputy director

The Enforcement Directorate (ED), a law enforcement and an economic intelligence agency working as a part of India&#39;s ministry of finance, has attached over Rs 91 crore kept in a Singapore bank in connection with a Mumbai-based City Limousine chit fund case. 
 
Sayed M Masood, chairman of the chitfund, is being investigated for floating illegal ponzi schemes by promising extraordinary returns.&nbsp;The amount has been attached under the Prevention of Money Laundering Act (PMLA), Indian news agency PTI reported today.&nbsp; 
 
The ED, in a joint collaboration&nbsp;with their counterparts in Singapore, carried the operation out and attached Rs 91.3 crore in foreign currency in Singapore bank accounts&quot;. The total seizure of assets now amounts to Rs 385 crore, the news agency said.&nbsp; 
 
In 2015, the agency had attached Rs 166 crore in Singapore and Rs 6 crore in a Swiss bank account in 2012, including a few other attachments.&nbsp; 
 
According to PTI, the law enforcement agency suspects that Ms City Limousines (India) Limited and Ms City Realcom Limited, its chairman and other directors of the companies have cheated thousands of investors across the country,&nbsp; 
 
(WION)

The total seizure of assets now amounts to Rs 385 crore

The Enforcement Directorate (ED), a law enforcement and an economic intelligence agency working as a part of India's ministry of finance, has attached over Rs 91 crore kept in a Singapore bank in connection with a Mumbai-based City Limousine chit fund case. Sayed M Masood, chairman of the chitfund, is being investigated for floating illegal ponzi schemes by promising extraordinary returns. The amount has been attached under the Prevention of Money Laundering Act (PMLA), Indian news agency PTI reported today. The ED, in a joint collaboration with their counterparts in Singapore, carried the operation out and attached Rs 91.3 crore in foreign currency in Singapore bank accounts". The total seizure of assets now amounts to Rs 385 crore, the news agency said. In 2015, the agency had attached Rs 166 crore in Singapore and Rs 6 crore in a Swiss bank account in 2012, including a few other attachments. According to PTI, the law enforcement agency suspects that Ms City Limousines (India) Limited and Ms City Realcom Limited, its chairman and other directors of the companies have cheated thousands of investors across the country, (WION)

Indian regulatory body attaches Rs 91 crore to Singapore bank in Mumbai ponzi case

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