Four arrested in Mumbai in connection with ₹30 crore Ponzi, multi-level marketing scheme
Police said the company was accepting illegal investments, even in the form of cash, promising continuous, fixed returns of 5-7% monthly, without obtaining any license/registration from the Reserve Bank of India or the Securities and Exchange Board of India
The Mumbai Police arrested four individuals on Thursday and Friday, allegedly linked to a Ponzi and multi-level marketing scheme conducted by AI Origin/Digital Origin, according to the Economic Intelligence Unit. The case, filed under the BNS Sections and the BUDS Act, accuses the directors and agents of accepting illegal investments, promising returns of 5-7% monthly without proper license/registration.
The company allegedly used various channels, including their website, WhatsApp groups, and in-person seminars, to lure investors. New offices were found in several cities, with operations run through agents in Karnataka and Goa. The police seized cash, bank passbooks, vehicles, and laptops during raids in Vasai West, Goregaon East, and Malad East.
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