Bhubabaneswar: The Economic Offences Wing (EOW) of Odisha Police on Saturday arrested a man from Cuttack for his alleged involvement in Ponzi scheme scam of over Rs 1,000 crore spread over at least ten states.

EOW said in a statement that the accused, identified as Pratap Kumar Rout of 42 Mouza, Jhinkiria, was arrested from Cuttack following a complaint lodged by a cheated investor. ADVERTISEMENT

Complainant Bijay Kumar Panigrahy had alleged that he invested Rs 92,60,480/- in Hedgex Fund LLP, whose designated partners are Dinesh Kumar Jain and one Kuldeep Singh Panwar. He came to know about Hedgex Fund LLP from one Pratap Kumar Rout who induced him to invest his retirement amount in Hedgex Fund LLP to get monthly returns from 11% -18%. He was convinced by the accused Pratap that the sai

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