‘Don’t Fall Into Trap’: Odisha EOW Busts Fake Website Used To Dupe Investors, Issues Advisory

The Economic Offences Wing (EOW) has issued an advisory warning public not to fall into trap of several online websites offering additional income on daily basis.

During investigation in a case under Prize Chits and Money Circulation Schemes (Banning) Act, 6 OPID Act and 66C & 66D of IT Act, the investigating officer came across a fraudulent website namely http://www.smsmvip.com. On opening of the website it showed the name “Marathon Digital Holdings”.

As per EOW, the dubious website has a unique modus operandi in which an investor is given a set of tasks – liking some videos on YouTube etc. Further, the investor is required to send screenshots relating to the completion of the task as proof for completion of the task to the tutor on the Telegram Chat.

For each task, the investor has to deposit a minimal amount of Rs 1000, which needs to be paid through an UPI ID reflected on the website.

During probe, it came to light that the UPI ID’s reflected in the website for payment towards investment were linked to Bank accounts maintained in the name of many shell companies, firms and mule accounts maintained in the name of individual persons. Layering was used for transacting the ill-gotten money by transferring the bulk credit amount to further unknown accounts maintained in the name of firms companies and individuals.

After analysing statement of accounts of 11 accounts linked to this fraud website, it came to light that within a period of 3-4 months the accounts had total transactions of Rs 39.11 crore with a left over Balance of 11.91 lakh only, which was freezed by EOW. Bulk amount from most of these accounts was transferred to 3 accounts maintained with HDFC Bank , in which the total transactions were more than Rs 85 lakh out of which an amount of Rs.41.26 lakh were subsequently withdrawn in Dubai. The website is still active and defrauding thousands of investors. It is suspected that at least 3700 investors across India have already been duped by this website/scheme, the EOW said in a release.

The EOW issued advisory following the probe:

1. Do not respond to unknown what’s app messages alluring you to earn additional income
   2. These numbers generally show Non-Indian mobile numbers .
   3. The communication/ call is never made live, but through
   Telegram or Whats App chats .
   4. The website claims to give additional incomes through investment in crypto mining or liking websites/ videos etc and the website sends links for joining/ becoming member.
   5. The payment towards investment is always through UPI ID’s
   which is reflected in in the website and keeps changing constantly
   While making payment in the given UPI ID’s, security/ warning
   messages are sent by Banks.
   6. The payment UPI ID’S show names of various companies, firms and enterprises.
   7. Such fraudulent websites gain your trust through initial
   payments/ commissions on investment but within 2-3 months the
   withdrawal amount to the total amount is blocked.