How Ponzi Scam Led To Kidnapping & Unravelling Of Fake Currency Racket In Odisha

Baripada: Police tracked a Ponzi scheme following the arrest of a 62-year-old retired government employee in an abduction case, and this, in turn, led them to a fake currency racket in Odisha’s Mayurbhanj district.

According to sources, Mahadev Singh was arrested in connection with the alleged kidnapping of 23-year-old Gajendra Behera. His interrogation revealed that he was lured into a Ponzi scheme by Gajendra, his father Luta Behera and Sukram Singh about a fortnight back with the promised to double his investment in 2 days. They initially collected Rs 1 lakh from him.

Luta asked Mahadev to deposit another Rs 3 lakh and assured him a return of Rs 10 lakh. On April 5, he then handed him over a box with Rs 10 lakh at Jadunathpur. Even before Mahadev could check the amount, he along with other  fled the spot. Except for three Rs 100 domination currencies, he found the others to be fake and then abducted Gajendra on April 7. On basis of a missing complaint filed by Luta, Baripada Sadar Police rescued his son from a club in the village and later arrested Mahadev.

Further interrogation revealed that Luta, Gajendra, Sukram, Ranjita Behera, Shyam Bindhani and Thakur Singh were running a counterfeit currency notes racket. Three bundles of fake notes, a motorcycle and two SUVs were seized from their possession. The kingpin of the racket, Sanjay Behera, is absconding, Additional SP Umakanta Maharana said.