Another prime accused in Rs 1,000 crore Ponzi scam held in Noida

AGRA: Two years after an FIR was registered by Sikandra police against the director and associates of a Ghaziabad-based IT company for allegedly duping investors to the tune of Rs 1,000 crore through a Ponzi scheme, police have arrested another prime accused in the case from Noida on Saturday.
Originally from Bijnor's Dhampur village, the accused Vinay Saxena, resident of Noida was on the run for four years. He had multiple cases of fraud against him in various cities of UP and Madhya Pradesh. He is the director Sai Ram Realtech Limited and Dev News Network, who duped people of Rs 15 crore using chit fund and later floated another company Pay Way IT solution private limited along with Aman Sharma, who also hailed from Bijnor, but lived in Chiranjeevi Vihar in Ghaziabad. The two were also helped by their business partners Varun Gupta and his associate Amit Saxena, to dupe scores of residents of NCR, UP and Madhya Pradesh.
Earlier, Agra police had arrested Aman, Varun and Amit.