In connection with an internet gambling racket operating in Odisha and many other states, the Economic Offences Wing (EOW) of the Crime Branch detained the self-described director of a ponzi company. Naveen Poriwar, the alleged accused and CEO of the fictitious Edudaddy Institute of Advanced Studies Private Limited, was arrested from Udaipur, Rajasthan.
The company served as a channel for the money that was illegally obtained and used in the betting ring. The EOW was able to track the passage of about Rs 11.74 crore via the business. The revenues of certain additional cybercrimes were chanelled via Poriwar, who is also a director of other shell companies.
While the accused Poriwar lives in Udaipur, Rajasthan, all of his businesses have their headquarters or are registered there. The EOW stated in a statement on Tuesday 14 March 2023 that he was presented before an Udaipur local court and is now being transferred to Odisha.
The betting ring was based in Dubai and China. Poriwar's businesses, however, are registered in Kerala. Almost 800 investors from Ganjam, Odisha, and several lakhs from other regions of the nation lost a significant amount of money to the scam. More than Rs 1000 crore were lost to fraud by 18football.com, of which Rs 300 crore have so far been traced by EOW.
In connection with a gaming and betting app case reported by the Economic Offence Wing (EOW) of the Odisha Police, the Bureau of Immigration earlier on Thursday issued a lookout circular against a shell business operator headquartered in Dubai. Two fraudsters from Howrah, West Bengal, were detained by the investigating agency as part of the previous EOW bust of the internet gambling and gaming ring operating out of Dubai.
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