Police detain Ponzi firm promoter in Odisha’s Balasore

Odisha Sun Times Bureau
Balasore, Aug 23:

Police have today detained promoter of a Ponzi firm in Odisha’s district headquarters town of Balasore on charges of duping investors.

Investors today handed over Jagdish Mishra, promoter of Ponzi firm Rajgodson Pvt Ltd to the Balasore town police for duping them of their money, reports said.

Police are questioning Mishra on his fraudulent activities, reports added.

According to reports, Mishra had been allegedly operating the Ponzi firm for about five years promising investors of lucrative returns on their investments. As he failed to make repayments after repeatedly promising to do so, investors caught hold of him and handed him to the police.

Allegedly, Mishra invested money collected from depositors to make an Ollywood movie ‘Mu Pherile Tumara’.