February 24th 2025.
A man from Odisha has been arrested by the Economic Offences Wing of the Odisha Police on charges of swindling people through fraudulent means. The accused, identified as Dhanajaya Sahoo, was apprehended in Hyderabad and brought back to Odisha for further investigation. As per the police, he had been collecting deposits from individuals with the promise of doubling their money in just ten months.
Upon receiving a complaint from Govinda Chandra Sahoo of Jajpur district, who had fallen victim to the scheme, the police registered a case against Dhanajaya under various sections of the Indian Penal Code and the Banning of Unregulated Deposit Schemes Act. It was revealed during the investigation that Dhanajaya had set up five different companies between 2011 and 2021, namely Goodland Happy Home Infra Ltd., Goodland Construction Pvt. Ltd., PURIFIO Technology Pvt. Ltd., Coinex Technology Pvt. Ltd., and Mutual Alliance Global Pvt. Ltd. He held the position of managing director in all these companies.
Through these companies, Dhanajaya enticed investors by offering them unrealistically high returns on their investments. He claimed that the funds would be utilized for real estate marketing, blockchain-based real estate projects, e-commerce, and online gaming platforms. In 2020, he established another company, Mutual Alliance Global Pvt. Ltd., operating from Chintamaniswar Temple in the Budheswari Area of Bhubaneswar.
During the investigation, it was found that Dhanajaya had managed to collect a staggering amount of Rs 5 crore from approximately 200 investors through unregulated deposits between 2020 and 2021. The victims hailed from various districts of Odisha such as Cuttack, Khordha, Jajpur, Bhadrak, Keonjhar, and Mayurbhanj. The police have seized crucial evidence from the accused, including a laptop, mobile phone, pen drive, bank account documents, ATM cards, and a passport. It was also discovered that Dhanajaya had traveled to foreign countries like Dubai, Thailand, and Germany.
The police have taken strict action against the accused and are determined to bring justice to the victims of this fraudulent scheme. They urge the public to be cautious and aware of such scams and not fall prey to them. The investigation is ongoing, and more details are expected to come to light in the following days.
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