Odisha's Chain Marketing Scam: Man Nabbed for Duping 200 Investors
A 64-year-old man, Partha Sarathi Das, was arrested in Odisha for defrauding about 200 people through a chain marketing scheme via a mobile app. Victims were lured with promises of great returns but ended up being asked for more money. The app ceased to function, prompting police action.
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In a significant bust, Odisha police have apprehended a 64-year-old man accused of orchestrating a widespread chain marketing scam, affecting around 200 investors. The alleged mastermind, Partha Sarathi Das, reportedly lured victims with a fraudulent mobile app promising lucrative returns.
The scheme, run through the 'Huge App', involved a registration fee of Rs 16,500 per participant. Initially, some individuals received impressive returns, incentivizing others to join. However, the scam escalated when members were asked for an additional Rs 4,950 for maintenance, only for the app to later become non-functional.
This led to a surge of complaints with Cuttack's cyber police, who subsequently launched an investigation, uncovering similar incidents in rural areas. Das' arrest came along with the seizure of Rs 68,000 in cash and a frozen bank account containing Rs 2.51 lakh.
(With inputs from agencies.)
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