Cuttack, Aug 12: The OPID Court in Cuttack has granted fobve more days remand of Gurtej Singh sidhu and Nirod Das arrested by the Economic Offences Wing (EOW) in connection with a crypto-ponzi scam.
Earlier the EOW had made a prayer for extension of remand as the case is very complex involving multiple states and huge amount of money.
The investigating agency said that they are further probing information about heads of other states and their networking and network of the fraud firm in other countries.
STA (Solar Techno Alliance) was launched in September 2021. In its website and social media accounts it claims to be a one-stop solar technologies service that enables users to order anything they like from the nearest farmers in the shortest amount of time using blockchain technology.
During the inquiry, it was found that STA through some upline members are very active in these districts and they have been using various propaganda tools to persuade people to join in this scheme and earn huge money in a very short time.
It was found that members have started using the STA token as a legal tender in their day-to-day business. It is estimated that more than 10000 people from Odisha have already been members of this scheme. This scheme has more than 2 lakh members in India \including states like Punjab, Rajasthan, Bihar, Jharkhand, Haryana, Delhi, Madhya Pradesh, Maharashtra, Odisha and Assam.