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.
