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EOW arrests one more accused in STA ponzi scam
The Economic Offence Wing (EOW) of Odisha Police arrested another accused from Bhubaneswar in connection with the Rs 1,000 crore STA crypto-ponzi scam.
Bhubaneswar: The Economic Offence Wing (EOW) of Odisha Police arrested another accused from Bhubaneswar in connection with the Rs 1,000 crore STA crypto-ponzi scam.
The EOW arrested Ratnakar Palai (45) on Tuesday and he will be produced before Odisha Protection of Interests of Depositors (In Financial Establishments) Act, 2011 (OPID) Court in Cuttack. The EOW statement said Palai is an important and up-line member of STA having a huge number of members below him (known as down-line members in pyramid-based schemes).
He is close to Gurtej Singh and Nirod Das, the India and Odisha chief of the ponzi company. The Solar Techno Alliance (STA) has more than 2 lakh members (pan India) mainly in States like Punjab, Rajasthan, Bihar, Jharkhand, Haryana, Delhi, Madhya Pradesh, Maharashtra, Odisha and Assam. The STA was launched in September 2021.
