EOW Arrests Three For Duping Investors Rs 50 crore
Bhubaneswar: The Economic Offence Wing (EOW) of state Crime Branch today arrested three persons for allegedly cheating investors Rs 50 crore on the pretext of direct marketing.
The EOW today arrested Sarat Kumar Parida, Debabrata Harichandan and Chandan Kumar Mahalik, all senior partners of Q Net Ltd and Vihaan Direct Selling (India) Pvt Ltd.
Police said that they were functioning in a pyramid structure where new entrants deposited money in the account of upline members. “The accused collected Rs 50 crore in similar fashion and misappropriated the money of investors,” said a police official.
Police said that the houses of the accused were searched and many documents including brochures, receipts and laptops were seized. “ Further investigation in the case is continuing and we are also trying to source of investment of the duped money,” added the police official.