Bhubaneswar: Economic Offence Wing (EOW) has unearthed another crypto ponzi scam and arrested Sandeep Choudhury, Head of ‘Yes World Crypto Token” from Jaipur, Rajasthan.
EOW sources here Friday said Choudhury, a native of Jhunjhunu, Rajasthan, was arrested November 15 and produced before the local court in Jaipur the next day.
The court granted five days transit remand. He was brought to Odisha and will be produced before the OPID Court, Cuttack, Odisha.
EOW also arrested Basant Kumar Pradhan and Manoj Kumar Patnaik from Bhubaneswar Thursday who are the up line members of ‘Yes World’ in Odisha. They will also be produced before the OPID Court, Cuttack Friday.
Choudhury was absconding and a lookout circular was issued against him by BOI on the request of EOW. While he was trying to escape from India to Dubai November 15, he was intercepted and detained by BOI at Jaipur International Airport under intimation to EOW, Odisha. EOW team went to Jaipur and arrested the accused.
A case was registered on the complaint of one Swagat Kumar Nayak of Market Chhak, Daitapada Sahi, Puri. He had alleged that he has been cheated by Sandeep Choudhary, Basant Kumar, Manoj Kumar Patnaik and others of ‘Yes World’ of around Rs 85,000.
During the investigation, it was found that ‘Yes World’ is running a huge Ponzi/ MLM/ money circulation scheme in the name of crypto coin/ token.
According to the source, there are more than 8,000 members/ investors in Odisha alone who have invested money in this scheme.
In Odisha, it is mainly spread in Bhubaneswar, Khurda, Bhadrak, Kendrapada, Jagatsinghpur, Keonjhar and Nayagarh. This scam has around 2.5 lakh members (Pan India) mainly in states like Punjab, Rajasthan, Odisha, West Bengal, Haryana, Gujrat, Bihar and Jharkhand.
In its website and social media accounts it claims to be an “Innovative Climate Tech Company which creates solutions to help business and consumers combat climate change”.
But during investigation, it was noticed that ‘Yes World’ runs a huge ponzi scam in the garb of crypto token. It is not authorised by RBI or any other authority to collect deposits.
EOW advised people to not invest their hard-earned money in such MLM/ ponzi schemes which shows the dream of becoming millionaire in an unrealistically short time.
UNI
