Mumbai, August 15, 2026: The Economic Intelligence Unit (EIU) of the Mumbai Police’s Economic Offences Wing has busted an alleged Ponzi and multi-level marketing (MLM) racket that lured investors with promises of 5 to 7 per cent returns.
The investigation has revealed that around Rs 30 crore was allegedly collected from investors through the scheme operating under the names AI Origin and Digital Origin.
Undercover Probe Led To Raids
In a significant aspect of the investigation, police allegedly posed as investors to understand the functioning of the scheme before taking action. After gathering information through cyber investigation, analysis of the mobile application and field inquiries, the police mapped the entire network.
While the alleged Ponzi scheme was still operational, the EIU conducted raids at five locations and arrested four people — Shrikrishna Pandurang Chavan, Ankush Shantaram Patil, Dr Sudesh Mohite and Subhash Pandhere.
Fake Business Claims Examined
According to investigators, the accused allegedly created an impression among investors that their money was being invested in businesses and projects such as BMC contracting, gaming applications and solar projects. However, investigators reportedly found no substantial evidence of the projects and businesses being promoted to investors.
The scheme allegedly operated through an MLM model. Initially, people were asked to pay Rs 1,500 for membership and were subsequently provided access to an application.
Members were encouraged to bring more people into the scheme, with claims that they would start earning after adding around 500 members. This helped the network expand rapidly.
Cash, Cars And Laptops Seized
Police raided the alleged main office in the Palm House, Aarey Colony area, along with an office in Vasai and three other locations. During the searches, police seized approximately Rs 12 lakh in cash, a BMW car, a Verna car and seven laptops. Details of nine bank accounts were also recovered.
The investigation has further revealed that the accused allegedly took around 60 people to Thailand, reportedly as part of their promotional activities.
The police action came just as an office inauguration event was scheduled to be held in Satara. The EIU intervened and arrested the accused before the event could take place.
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Network Spread Across States
The scheme was reportedly being operated not only in Maharashtra but also through a network in Goa and Karnataka. The Economic Offences Wing is continuing its investigation, and officials are probing the possibility of identifying more investors, agents and other people involved in the alleged racket.
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