The OPID Court in Cuttack has rejected the bail applications of two of the main accused in the Rs 1,000-crore pan-India STA crypto ponzi scam, who were arrested by the Economic Offences Wing (EOW) of the Odisha Police.
The duo Nirod Kumar Das (Odisha head of STA) and Ratnakar Palai of Bhubaneswar
The Economic Offences Wing of Odisha Police is investigating a Rs 1,000 crore ponzi scam and may question Bollywood actor Govinda s involvement. The scam involves the firm STA (Solar Techno Alliance), which is accused of operating a Ponzi scheme and collecting deposits without authorization. The police have already arrested individuals connected to the scam and issued a look-out circular against a Hungarian national involved. STA has over 2 lakh members across multiple states in India.