Rourkela: Over 20 individuals from here and nearby areas met Rourkela SP Nitesh Wadhwani on Monday, alleging they were duped of lakhs by a man named Ashok Badaik promising high returns on their investments. The accused is alleged to have defrauded hundreds of people, including youths and residents of Simdega, of nearly Rs 1 crore.
Badaik allegedly operated a company and lured investors over the past 21 months with promises of high daily returns. He conducted promotional meetings and encouraged people to invest via a online payment platform, assuring weekly withdrawals through an e-wallet. Investments ranged from Rs 1,750 to several lakhs.
However, when investors attempted to withdraw funds on Sept 5, Badaik cited Teachers’ Day as a reason for the delay. He continued offering excuses in subsequent weeks and eventually stopped responding.
Alarmed by the silence, a group of depositors approached Wadhwani, demanding action. The estimated loss for the 20 complainants is around Rs 40 lakh. Acting on the complaint, Rourkela cyber police registered a case and launched an investigation.
“The accused will be nabbed soon,” Wadhwani said, confirming a probe is underway to recover the funds and bring Badaik to justice.
Malay Ray is a journalist who writes on social issues, human inte...
Read MoreMalay Ray is a journalist who writes on social issues, human interest stories, startups, inventions, the environment, women empowerment, and tribal life. He has been writing for The Times of India from Rourkela and covering other areas in the Sundargarh district of Odisha for the past three years.
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