Bollywood actor Govinda to be questioned in connection with a Rs 1,000 crore online Ponzi scam

Bollywood actor Govinda will be questioned by the Odisha Economic Offences Wing in connection with a Rs 1,000 crore online Ponzi scam.

What is the Ponzi scam?

It is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity and they are unaware other investors are the source of funds.

Statement by EOW inspector general

J N Pankaj told Times of India, “We will soon send a team to Mumbai to question filmstar Govinda who had attended STA’s grand function in Goa in July and promoted the company in some videos.”

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He added, “If we find that his role was limited to only endorsement of the product (STAToken brand) as per their business agreement, then we will make him a witness in our case.”

When Govinda spoke about nepotism

Back in 2021, Govinda told  ETimes about being mistreated by people from the film industry who were close to him, claiming that a conspiracy to sabotage his career was hatched against him.

The actor also opened up about being affected by the nepotistic practices of Bollywood, which coincided with the time he stopped getting work. Govinda added that he has even witnessed Amitabh Bachchan struggle in his career.

“In the last 14-15 years, I have invested money and lost around Rs 16 crore. I was treated badly by some people from the fraternity too. My films didn’t get theatres and they wanted to demolish my career, which didn’t happen,” said Govinda.

Govinda further spoke about his animosity with nephew  Krushna Abhishek, who has made fun of the actor on The Kapil Sharma Show. Govinda said Krushna is “spoiling his image” and does not understand Krushna’s motivation to do so.

He also revealed that he might soon make his digital debut. The actor said he has heard 3-4 projects and will be locking one soon.