Director of shell company involved in betting/online ponzi case arrested
EOW has arrested one Dileep Kumar from Trissur in Kerala on Monday. He is the director of a shell company, said reports.
Kerala: The Economic Offence Wing (EOW) has arrested one Dileep Kumar P (Age-35, diploma in Business management) from Thrissur, Kerala.
He is the director of one Kerala-based Shell company named Priwest Global Solutions Pvt. Ltd. This company was utilized to channel the ill-gotten money of this scam. EOW could trace around Rs 19.49 Crore to have been routed using this company.
He is also the Founder cum Managing Trustee of Omana Foundation Public Charitable Trust, Coimbatore which is also used to channelize the crime proceeds of this scam. The arrested accused was produced before local court of JMFC, Chatakudy, Kerala.
The fraudster is being brought to Odisha on a six days transit remand for his production before the Hon’ble Designated Court under OPID, Berhampur.
As ascertained, 4000 to 5000 illegal transactions were being done in the Bank Accounts of M/s Priwest Global Solutions Pvt. Ltd and Omana Foundation Public Charitable Trust.
Earlier in this case, Look Out Circular was issued against Md Saif, Dubai based operator/ promoter of this scam.
Earlier, in this case two directors of Kolkata based shell company “Hakim & Rustam Fabrics Pvt. Ltd” Were arrested from Kolkata and one director of a shell company “Edudaddy Institute of Advance Studies Pvt Ltd” was arrested from Udaypur, Rajsthan.
FIR was registered on the complaint of few (800+) duped investors of Ganjam district, Odisha. They and Lakhs others (Pan India, across the states) had invested money in 18football a fraud website with a motive to earn quick money.
The website 18football is a hybrid model of fraud where Ponzi scheme (Multilevel Marketing) runs online giving a name of football betting/ gaming APP. It is a huge international scam running online from a website which has been registered in Hongkong (China) and also operated from Dubai.
Investors are promised of giving lucrative benefits like 3% daily compound return on investment, recharge bonus, referral bonus, extra bonus on the earning of the down- line members, salary bonus, daily withdrawal option etc. Toll free No.18003457103.
Investors need to create an account with “18football” either by application or through offline referral link, and were being asked to bet money in some football matches as prescribed in website/ APP. Investors were also provided with the so called foreigner “mentor” to
assist them in betting.
These mentors used to communicate through telegram or Apps only. There were extra bonus/ commission for introducing/ recruiting new members.
In order to promote and to allure the innocent public, the fraudsters were also taking up the promotional activities like some social works, charity etc. in the rural areas and giving it huge publicity so that people will consider this scheme as a bonafide organization.
The fraudsters although initially paid the promised return for some few days to the investors, yet in the latter stage when the membership increased, stopped making any payment and closed the app “18football”.
The Scammers used multiple shell companies/ firms and their directors to route the ill-gotten money. They also used mule accounts for multilayering of money transaction to confuse the law enforcement agencies.
However they used to get the order/ direction from one Md Sheikh Saif from Dubai. The fraud by 18football website has got all India ramifications, and the fraud amount involved is suspected to be more than Rs.1000 Crore, out of which EOW has been able to trace transaction of approximately Rs. 525 Crores till now.
Ms Kalinga