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Two Gujarat-based bizmen arrested in Sambalpur district…

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activePonzi / Investment SchemePan India

Two Gujarat-based bizmen arrested in Sambalpur district for Rs 1,000 crore ponzi scam

Two businessmen from Gujarat were arrested in Sambalpur district, Odisha, for their alleged involvement in a massive ponzi scheme worth approximately Rs 1,000 crore. According to police reports, the accused floated a company named 'Punewala' and used a software to collect funds from unsuspecting investors.

State

Multiple States

First reported

September 2026

Agency involved

Amreli district cyber police (Gujarat) and Sambalpur police (Odisha)

Arrests

Two businessmen

Status

Arrested by a Gujarat police team in Sambalpur and taken back to Gujarat for further legal proceedings

The full story

Everything you need to know about this case, in one place.

Investigators stated that the duo defrauded investors of roughly Rs 600 crore in Gujarat and about Rs 400 crore in Rajasthan. Following a formal complaint at a cyber police station in Amreli district on September 2, authorities launched a widespread search after discovering the suspects had fled to Odisha.

A team from Gujarat police coordinated with Odisha law enforcement to track down the hidden suspects. Sambalpur police traced the two men and intercepted them on Tumbesingha road while they were allegedly attempting to escape in a car, which was subsequently seized by local authorities.

Not yet reported: The articles do not mention specific court charges or the exact total number of individual victims affected.

Where the case stands

The latest position in the reports we read.

The two accused men were successfully intercepted and arrested in Odisha by a joint effort of local and Gujarat police, and have been taken back to Gujarat for further investigation.

Who was affected

Described in general terms; we do not name victims.

Investors across multiple states, specifically in Gujarat and Rajasthan, who lost a combined total of Rs 1,000 crore.

Timeline

Key dates as reported, oldest first.

September 2A complaint regarding the ponzi scheme was lodged at the Amreli district cyber police station in Gujarat.

SaturdayA Gujarat police team reached Sambalpur and arrested the two suspects with the assistance of local police.

How the scam worked

The method described in the reports.

The accused floated a company named 'Punewala'.
They utilized a software to collect money from investors on behalf of the company.

Targeted by something similar?

Call 1930 (free, 24x7) straight away, then file at cybercrime.gov.in. Money reported in the first hours is far easier to freeze.

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Keep reading

More cases like this one.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

newindianexpress.comOriginal report The New Indian ExpressOpens via Google News

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.