Bureau of Immigration issues ‘Lookout Circular’ notice against Dubai-based fraud operator MD Saif

Economic Office Wing IG Jai Narayan Pankaj on March 10 informed that the Bureau of Immigration has issued a Lookout Circular (LOC) against one Md Saif, the prime accused in a Ponzi-cum-online betting racket case. IG Jai Narayan Pankaj said, “At the request of the Economic Offences Wing (EOW) of Bhubaneswar, the Bureau of Immigration has issued a Lookout Circular (LOC) against Md Saif, the prime accused in a Ponzi-cum-online betting racket case. A case was registered after around 800 people submitted complaints to us. Earlier, we arrested 2 people from Kolkata in this case.” “Transactions of more than Rs 300 Crores have been traced in this case and we are yet to analyse more than 100 accounts. It is suspected that the amount involved in this case may cross Rs 1,000 crores,” he added.