The New Indian Express ·
Two Gujarat-based bizmen arrested in Sambalpur district for Rs 1,000 crore ponzi scam
SAMBALPUR: Two businessmen from Gujarat were arrested from Sambalpur for allegedly defrauding a staggering Rs 1,000 crore from investors in two states by floating a ponzi scheme.
A Gujarat police team picked up the two - Dhabal Govindbhai Patel (39) and Hiren Mukeshbhai Saha (38) - from Sambalpur where they were hiding.
According to Sambalpur SDPO Tophan Bag, Patel and Saha had floated a company named ‘Punewala’ and collected money through a software on behalf of the company. They are accused of cheating around `600 crore in Gujarat and `400 crore in Rajasthan.
A complaint was lodged at Amreli district cyber police station in Gujarat on September 2. Police registered a case and launched an investigation.
During the probe, police learnt that the accused had travelled to Odisha and were hiding in the state. The Gujarat police contacted its Odisha counterparts which alerted SPs across the state. Sambalpur police, acting on the information, conducted an inquiry and traced the two accused to Sadar police station area. The local police then coordinated with their Gujarat counterparts.
A Gujarat police team reached Sambalpur on Saturday and, with the assistance of local police, intercepted the two men while they were trying to flee in a car on the Tumbesingha road. Both were arrested and subsequently taken back to Gujarat.
The car used by the accused was seized by Sambalpur police, Bag said.
