Bhubaneswar: On the request of Economic Offences Wing, Bhubaneswar, the Bureau of Immigration (BoI) has issued Look out Circular against one Md Saif of Shaheen Bagh, Delhi.
Saif is a native of Chhawni in Bettiah district of Bihar. He has been booked by the EOW in a case under Sections 420/467/468/471/120-B of the IPC and Sections 4/5/6 of PCMCs (Banning) Act, Section 6 of OPID Act and Section 66 (D) of the IT Act.
The accused runs a ponzi business from Dubai. He has defrauded at least 800 persons from Odisha and several thousands from rest of the country by running an app called 18football.com. This app lures depositors towards easy and quick money.
“18football.com is a hybrid model of fraud where Ponzi scheme (Multi-level Marketing) is run online giving a name of football betting/ gaming app. Investors are promised of giving lucrative benefits like 3% daily compound return on investment, recharge bonus, referral bonus, extra bonus on the earning of the downline members, salary bonus, daily withdrawal option etc,” an EOW official said.
The fraud by 18football.com has got all India ramifications, and the fraud amount involved is suspected to be more than Rs 1000 Crore, out of which EOW has been able to trace transaction of approximately Rs 300 Crores till now.
Look Out circular is generally issued to alert immigration check posts at airports/seaports etc. to alert law enforcement agency, if the wanted person tries to leave the country or arrive inside country from abroad.
EOW declared that anyone giving credible information leading to arrest of the above noted accused Md. Saif will be suitably rewarded. “The information can be given on the Mobile No.8249600495. The name/details of the informer will be kept secret.”
