Woman, daughter held for involvement in ponzi scheme case, duping investors of ₹123 crore

THE Economic Offences Wing (EOW) of Crime Branch has arrested a mother-daughter duo from West Bengal for alleged involvement in cheating around 34,000 investors of a whopping ₹123 crore across six states of the country as well as neighbouring Bangladesh.

- EXPRESS NEWS SERVICE @ Bhubaneswar

The accused Dwipika Bhanjo and her daughter Tandra were arrested on Tuesday and produced in an OPID court in Cuttack on Wednesday. The agency had registered a case on May 28 last year basing on the complaint of one of the investors Manmohan Dora of Bhubaneswar.

As per the complainant, Tusar Bhanjo, Dwipika's husband and director of Harit Krishi Nidhi limited, had lured him and hundreds of other depositors to invest in his company on the promise of receiving high returns like monthly interest of 11 per cent, and 4 per cent to 5 per cent extra commission for adding new members in the ponzi scheme.