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Bollywood Actor Govinda May Face Questioning in ₹1,000 Crore Cryptocurrency Scam

Friday, September 15, 2023 • Tamil Comments
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The Odisha police's Economic Offences Wing (EOW) may request an interview with Bollywood actor Govinda in connection to a ₹1,000 crore fake cryptocurrency scheme. EOW officials revealed that Govinda, who participated in a promotional event for Solar Techno Alliance (STA-Token), a multi-level marketing scheme that falsely presented itself as a cryptocurrency, in Goa on July 30, could be summoned for questioning.

"We may summon him to Bhubaneswar for interrogation or send a team to Mumbai to inquire about his involvement in STA's grand event in Goa. Govinda had released a promo in July and promoted the company in some videos," stated EOW deputy superintendent of police Sasmita Sahoo. She also added that Govinda's specific role in the case would only become clear after an investigation, and he might be considered a witness.

Last month, the EOW dismantled the fraudulent cryptocurrency scheme STA and apprehended the mastermind, 40-year-old Gurtej Singh Sidhu from Punjab. Unlike legitimate cryptocurrencies, STA functioned as a multi-level marketing scheme, luring new investors to sustain it. Promised earnings ranged from $20 to $3,000 per day if participants joined the scheme and acquired STA Crypto Tokens for a five-year period.

Sidhu faces charges of cheating, forgery, and criminal conspiracy under the Indian Penal Code (IPC) and sections of the Prize Chits and Money Circulation Banning Act. EOW officials are now in pursuit of STA leaders in states like Madhya Pradesh, Chhattisgarh, Jharkhand, Bihar, Punjab, and Rajasthan.

"As more cheated investors come forward to file complaints against top-line members, we are piecing together the money trail between the gullible investors and STA. Once established, we will submit a chargesheet," noted an EOW official.

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