In a significant crackdown on financial fraud, the Economic Offences Wing (EOW) of Odisha Police today arrested Pratap Kumar Rout, a key figure in one of the country’s largest Ponzi schemes, from his residence in Jhinkiria, near Cuttack. The 40-something accused, son of Prafulla Rout, was apprehended in connection with EOW PS Case No. 14 dated October 14, 2025, registered under Sections 420 (cheating), 467, 468, 471 (forgery), and 120-B (criminal conspiracy) of the Indian Penal Code (IPC), read with Sections 4, 5, and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, Section 66(D) of the Information Technology Act, and Sections 21(1)(3) and 23 of the Banning of Unlawful Deposit Schemes (BUDS) Act.

Rout, identified as the Odisha head and local coordinator for Hedgex Fund LL

See Full Page