The Economic Offences Wing (EOW) of Odisha has arrested two individuals linked to an elaborate Ponzi scheme that defrauded investors of over Rs 123 crore.
The arrested individuals, Dwipika Bhanjo and Tandra Bhanjo, wife and daughter of the primary accused Tushar Bhanjo, were apprehended in Kolkata on May 20, 2025.
The fraudulent operation, run under the banner of Harit Krishi Nidhi Ltd. and Transvision Dream Multi Trade Pvt. Ltd., promised investors exorbitant monthly returns of 11% and bonuses for recruiting new members. However, after an initial payout, the scheme collapsed, leaving thousands of investors in financial distress.
Investigations revealed that the company violated Nidhi Company regulations by operating outside its registered state and conducting prohibited chit fund activities. Funds were diverted to personal accounts, overseas transactions were detected, and the primary accused allegedly funded luxury trips to Dubai and Bangkok using investor money.
The EOW has seized incriminating documents, banking credentials, and other financial records. As the probe continues, authorities anticipate further arrests and asset recoveries to compensate defrauded investors.
The arrested individuals will be produced before the Designated Court under the Odisha Protection of Interests of Depositors (OPID) Act in Cuttack today.
