Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Odisha: Ponzi company director sentenced to seven years RI for duping investors 

UNI
Updated: December 23rd, 2023, 19:18 IST
in State, Top Stories
0
Jail, Crime, Prison

Representational image

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Balasore: OPID Court, Balasore Saturday held M/s Digital Revolution Technologies Limited Director Prince Kumar guilty of duping hundreds of investors by giving false assurances of high returns under different schemes involving various digital products.

The court while holding Prince Kumar guilty U/s 406/ 420/ 467/ 468/ 471/ 120-B IPC, Sec. 66 of IT Act, Sec. 4/ 5/ 6 of Prize Chits & Money Circulation Scheme (Banning) Act & Sec 6 of Odisha Protection of Interests of Depositors Act, sentenced him to undergo Rigorous Imprisonment (RI) for seven years and imposed fine of Rs3,33,000.

Also Read

Ber smugglers

Ber smugglers make hay as Rlys sits tight

2 hours ago
Bonaigarh rape accused teacher

Teacher held for sexual assault

2 hours ago

The court further ruled that in default of fine, the accused Prince Kumar will undergo further imprisonment of one year.

The Economic Offences Wing (EOW) of Bhubaneswar arrested Prince Kumar, a resident of Muzaffarpur, Bihar, on May 18 ,2022, and a prime accused in the case from Brindaban, Mathura in Uttar Pradesh.

The Company used forged documents to cheat the investors. The invested money is far higher as the company has victims spread in many states especially in Maharashtra, Bihar, UP, Delhi, West Bengal, Odisha and Chhattisgarh.

Prince Kumar, EOW sources said, had given false assurances to the investors that the investment amount would be double within one year and could able to induce the investors to invest in the company although the company has no commensurate/ real business activity to pay high returns.

He also used glamorous propaganda using website, YouTube, Facebook and conducted meetings at Balasore and Bhadrak to convince the gullible investors.

During the investigation, it was found that the deposits collected by the company under the cover of Direct Digital Marketing are nothing but Ponzi schemes.

UNI

Tags: BalasoreEOWInvestmentOdishaPonzi scamscam
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019

Archives

Editorial

Epstein’s Sleaze & Politics

Epstein
February 11, 2026

Influential people and high dignitaries often willingly get into honey-traps or sex rackets to seek pleasure using their positions. The...

Read moreDetails

Battle Over Book

February 10, 2026

An unseemly controversy has been created over an unpublished book penned by former Army Chief General MM Naravane. It has...

Read moreDetails

Unfair Deal

Donald Trump
February 9, 2026

After punishing Indian exporters with a steep 50 per cent tariff on their goods sold in America for more than...

Read moreDetails

Coerced Alignment

February 8, 2026

By Aakar Patel Violation of sovereignty is defined as an infringement on a nation’s territorial integrity or an interference with...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST