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Govinda's manager addresses actor's alleged Rs 1,000 cr Ponzi scheme

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The Odisha Economic Offences Wing (EOW) plans to question actor Govinda in relation to a Rs 1,000 crore online Ponzi scam probe.

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The scam was allegedly perpetrated by the Solar Techno Alliance (STA-Token), operating a pyramid-structured online Ponzi scheme under the guise of crypto investment.

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Govinda had endorsed the company's operations in promotional videos, prompting the EOW's interest in him.

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The actor's manager, Shashi Sinha, denies involvement, stating Govinda was only present for an event and not implicated in any business or branding activities.

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Odisha’s STA heads, Gurtej Singh Sidhu and Nirod Das, were arrested in August. Ratnakar Palai, a prominent member, was also apprehended.

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The investigation revealed funds from investors in multiple states were taken as deposits for this scam, conducted under the appearance of multilevel marketing.