Odisha Ponzi Scheme Leader Brought to Justice

Dhanajaya Sahoo was arrested for defrauding 200 people across Odisha of Rs 5 crore, promising to double their money. The scam operated through his company, Mutual Alliance Global Pvt Ltd, and spanned Cuttack to Mayurbhanj districts. Despite small initial returns, payments ceased, and Sahoo absconded.

In a significant crackdown, the Economic Offence Wing of Odisha Police apprehended Dhanajaya Sahoo, the mastermind behind a Ponzi scheme that deceived nearly 200 people across various districts in Odisha out of Rs 5 crore.

Sahoo's company, Mutual Alliance Global Pvt Ltd, assured investors their money would double within 10 months. Despite offering minimal returns initially, Sahoo ultimately disappeared, halting all payments and shutting down the company's operations. His arrest followed a complaint by Govinda Chandra Sahoo from Jajpur.

Following his detention in Hyderabad, Sahoo was transferred to Bhubaneswar under a transit remand. Authorities seized crucial evidence, including a laptop, mobile devices, pen drive, bank documents, and his passport, as investigations continue.