Bhubaneswar: In a probe into multicore STA Token crypto-ponzi scam in various states including Odisha, the Bureau of Immigration issued Look Out Circular (LOC) against three more persons in connection with the fraud case.

On the request of EOW Odisha, the Look Out notice was issued against Krishna Kumar, Anil Kumar and Bhoora ram, all belong to Rajasthan.

According to EOW Odisha release, these three are the close associates of STA Token's India head Gurtej Singh Sidhu and look after the financial and technical management of the cryptocurrency-based ponzi scheme. They are also the top earners and among the top brass of STA Pyramid.

The EOW Odisha suspects that the top up-line members are planning to leave India and flee to Dubai or Thailand.

Earlier, the LOC was issued against David Gez, a Hungarian national, who is the global head of the STA Token firm.

So far, the EOW has arrested three accused persons including Gurtej Sigh Sidhu in Rs 1000 crore crypto-ponzi scam. Other two were Nirod Das, who is the Odisha head of the crypto-ponzi firm, and Ratnakar Palai, a key associate of Sidhu and propaganda head/social media influencer of STA. All three have been booked under sections 420/467/468/471/120-B of IPC and sections 4/5/6 of PCMS Act.

According to reports, the cryptocurrency-based ponzi scheme was active in Odisha especially in Bhadrak, Balasore, Bhubaneswar, Mayurbhanj, Jajpur, Kendrapara and Keonjhar districts following which the EOW conducted an inquiry. During investigation, it was found that the company with help of its members were using various propaganda tools to persuade people to join the scheme alluring them of high returns in a very short time.

During investigation, it was found that members have started using the STA token like a legal tender in their day-to-day business. It is estimated that more than 10,000 people from Odisha have already been members of this scheme. This scheme/scam has more than 2 lakh members (Pan India) mainly in the states like Punjab, Rajasthan, Bihar, Jharkhand, Haryana, Delhi, Madhya Pradesh, Maharashtra, Odisha and Assam.