‘Arrested ponzi firm CEO had produced 2 Hindi films’

Bhubaneswar: The CEO of Yes World ponzi firm, Sandeep Choudhary, who was arrested by the economic offences wing (EOW) recently on charges of duping about 2.5 lakh investors of around Rs 200 crore in Odisha and other states, had reportedly produced two Bollywood movies in 2017.
“We have come to know about his investment in two Bollywood movies. The exact budget of the two movies is being verified.We will find out whether the money he had invested belonged to the duped investors or not,” said EOW’s inspector general J N Pankaj.
Choudhary, who was arrested from Jaipur in Rajasthan on November 16, was brought on three-day police remand that ended on Thursday. He has been sent back to judicial custody at Jharpada Special Jail in Bhubaneswar.
“During interrogation, we found that he was using a Dubai SIM. He had planned to spread his business network in Dubai. He visited Dubai several times and developed contacts with some NRI investors there,” Pankaj said.
A look-out circular was issued against Choudhary to prevent him from escaping from the country. Last week, he was reportedly trying to flee to Dubai from Jaipur when the immigration authorities detained him and informed the EOW.
“We are trying to identify his key persons in the Ponzi company. Though we already arrested two of his functionaries in Odisha, he must be having some key employees. During interrogation, he did not cooperate and remained tightlipped about his associates. We are planning to bring him on remand again,” Pankaj said.
EOW said Choudhary’s company was illegally operating a pyramid-structured online ponzi scheme under the garb of crypto investment and collected deposits without any authorisation from the Reserve Bank of India.