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Director of chit fund company arrested in Odisha for duping investors of Rs 3 crore

25/11/2021 at 4:49 PM

Bhubaneswar, Nov 25: The Economic Offence wing (EOW) of Crime Branch has arrested Sudarsan Senapati, director of Akash India Multi Complex Ltd, a chit fund company, for duping investors of about Rs 3 crore during 2011-16.

The case against Senapati was registered on the basis of a written complaint filed by one Debendra Kumar Nayak on the allegation that the ponzi firm had duped a large number of investors to the tune of crores in the pretext of returning high rate of interest on their deposits under various schemes.

Investigation of the case revealed that Akash India Multi Complex Ltd is incorporated with ROC, Cuttack having its registered office at Dumuduma, Khandagiri, Bhubaneswar and its branch offices at Niali, Charichhak, Puri, Astaranga, Baungarigaon, Panikoili, Bramhagiri and Jagatsinghpur.

It is also revealed that Senapati along with other accused during the year- 2011 to 2016, hadcollected approximately Rs 3 crore. Initially, the company had made some meager payment to the investors to win their trust but subsequently from the year 2013, stopped making any payment to the investors and closed down their offices functioning at different places and the accused persons absconded from the locality.

Earlier in this case the managing director of the company, KedarnathSahoo, one of the directors Suresh Chandra Sahoo and Chief Executive Subash Chandra Mohanty has been arrested.The movable and immovable assets created by the accused companies from out of the public deposits have also been attached.

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