<p>Bhubaneswar: The economic offences wing of <a href="https://www.deccanherald.com/content/180919">Odisha </a>Police arrested a man for allegedly duping people by collecting deposits with the false promise of doubling their money in 10 months, police said.</p>.<p>The accused, identified as Dhanajaya Sahoo, was arrested in Hyderabad and brought to Odisha on remand on Monday.</p>.<p>A case has been registered against him under various sections of the IPC and the Banning of Unregulated Deposit Schemes Act, police added.</p>.Thousands in limbo on Thai-Myanmar border after scam centre crackdown.<p>He was arrested following a complaint by Govinda Chandra Sahoo of Jajpur district, who had deposited money with Mutual Alliance Global Private Limited, a company owned by Dhanajaya.</p>.<p>Investigations revealed that between 2011 and 2021, Dhanajaya established at least five companies — Goodland Happy Home Infra Ltd., Goodland Construction Pvt. Ltd., PURIFIO Technology Pvt. Ltd., Coinex Technology Pvt. Ltd., and Mutual Alliance Global Pvt. Ltd., where he served as managing director.</p>.<p>Through these companies, he lured investors by promising exorbitant returns, claiming that the deposited funds would be reinvested in real estate marketing, blockchain-based real estate ventures, e-commerce, and online gaming platforms.</p>.<p>In 2020, he founded his latest company, Mutual Alliance Global Pvt. Ltd., operating from Chintamaniswar Temple, Budheswari Area, Bhubaneswar, police said.</p>.<p>According to the probe so far, Dhanajaya collected around Rs 5 crore in unregulated deposits from around 200 investors between 2020 and 2021.</p>.<p>The victims were from the districts of Cuttack, Khordha, Jajpur, Bhadrak, Keonjhar, and Mayurbhanj in Odisha, police added.</p>.<p>Authorities have seized several incriminating materials from the accused, including a laptop, mobile phone, pen drive, bank account documents, ATM cards, and a passport.</p>.<p>Police also discovered that Dhanajaya had traveled to foreign countries such as Dubai, Thailand, and Germany. </p>
<p>Bhubaneswar: The economic offences wing of <a href="https://www.deccanherald.com/content/180919">Odisha </a>Police arrested a man for allegedly duping people by collecting deposits with the false promise of doubling their money in 10 months, police said.</p>.<p>The accused, identified as Dhanajaya Sahoo, was arrested in Hyderabad and brought to Odisha on remand on Monday.</p>.<p>A case has been registered against him under various sections of the IPC and the Banning of Unregulated Deposit Schemes Act, police added.</p>.Thousands in limbo on Thai-Myanmar border after scam centre crackdown.<p>He was arrested following a complaint by Govinda Chandra Sahoo of Jajpur district, who had deposited money with Mutual Alliance Global Private Limited, a company owned by Dhanajaya.</p>.<p>Investigations revealed that between 2011 and 2021, Dhanajaya established at least five companies — Goodland Happy Home Infra Ltd., Goodland Construction Pvt. Ltd., PURIFIO Technology Pvt. Ltd., Coinex Technology Pvt. Ltd., and Mutual Alliance Global Pvt. Ltd., where he served as managing director.</p>.<p>Through these companies, he lured investors by promising exorbitant returns, claiming that the deposited funds would be reinvested in real estate marketing, blockchain-based real estate ventures, e-commerce, and online gaming platforms.</p>.<p>In 2020, he founded his latest company, Mutual Alliance Global Pvt. Ltd., operating from Chintamaniswar Temple, Budheswari Area, Bhubaneswar, police said.</p>.<p>According to the probe so far, Dhanajaya collected around Rs 5 crore in unregulated deposits from around 200 investors between 2020 and 2021.</p>.<p>The victims were from the districts of Cuttack, Khordha, Jajpur, Bhadrak, Keonjhar, and Mayurbhanj in Odisha, police added.</p>.<p>Authorities have seized several incriminating materials from the accused, including a laptop, mobile phone, pen drive, bank account documents, ATM cards, and a passport.</p>.<p>Police also discovered that Dhanajaya had traveled to foreign countries such as Dubai, Thailand, and Germany. </p>