The Economic Offences Wing of the Orissa police said on September 13 that it would question actor Govinda in connection with a Rs. 1,000 crore pan-India Ponzi scam probe. According to the EOW, Solar Techno Alliance (STA-Token) was illegally operating a pyramid-structured online Ponzi scheme under the garb of crypto investment. They collected deposits without authorisation from the Reserve Bank of India, to the tune of Rs. 1,000 crore from more than 2 lakh people across the country. Govinda had reportedly endorsed the company’s operations.
“For the time being, the actor is not a suspect or an accused,” EOW inspector general J.N. Pankaj said, adding, “His exact role in the case can be ascertained only after investigation. If we find that his role was limited to only endorsement of the product (STA-Token brand) as per their business agreement, then we will make him a witness in our case.”
The company reportedly collected Rs. 30 crore from 10,000 people in different parts of Orissa. It collected lakhs of rupees as deposits from investors in Bihar, Uttar Pradesh, Punjab, Rajasthan, Haryana, Delhi, Jharkhand, Assam and Madhya Pradesh.
The EOW arrested the company’s country and Orissa heads, Gurtej Singh Sidhu and Nirod Das respectively on August 7. Bhubaneswar-based investment adviser Ratnakar Palai was held on August 16 for his links with Sidhu. Look out circulars were issued against company chief David Gez, a Hungarian national, and three Indian executives from Rajasthan, viz. Krishna Kumar, Anil Kumar and Bhoora Ramfor.
