₹57 Crore Ponzi Scheme Probe: Mumbai EOW Contacts 1,000 Investors To Identify More Victims And Track Funds
Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police, which is probing an alleged Ponzi investment scheme, is now reaching out to nearly 1,000 investors to identify more victims and ascertain the total amount collected by the accused. Police said around 700 letters have already been sent to investors, asking them to approach the EOW and formally lodge their complaints. Four Arrested Over…
The Economic Offences Wing (EOW) of the Mumbai Police is investigating an alleged Ponzi investment scheme and contacting nearly 1,000 investors to identify more victims and locate the funds collected. The scheme promised high returns of 7-8% per month and was reportedly active for a year through a company and digital platforms. Around ₹57 crore has been collected, and the police have seized cash, vehicles, bank accounts, and laptops.
Four individuals were arrested and are in custody, accused of operating under the names AI Origin and Digital Origin without proper licences or registrations. They allegedly organised promotional activities, including trips to Thailand, to attract investors, often portraying themselves as civic contractors and investors in gaming applications and cryptocurrency.
The accused also purchased land in Kolhapur, intending to sell it to investors. The EOW is working with authorities to attach the properties and determine the total amount collected through the fraudulent scheme.
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