EOW Arrests Two In Ponzi Scam In Odisha
Bhubaneswar: The economic offence wing (EOW) of Odisha Crime Branch today arrested Suresh Chandra Sahoo, director of money deposit collection company, Akash India Multi Complex Ltd for allegedly duping investors to the tune of Rs 3 crore.
The investigating agency has also arrested Subash Chandra Mohanty, secretary of Akashdeep Multi-Purpose Cooperative Society Ltd which was formed by the office bearers of Akash India Multi Complex Ltd.
Police said that the fraudulent company had collected Rs 3 crore under several schemes between 2006 and 2016 with an assurance of high return.
EOW officials said that the ponzi firm had its head office at Khandagiri in Bhubaneswar and branch offices at various places in the districts of Puri, Cuttack, Jajpur and Jagatsighpur.
“The fraud company shut down its offices in 2016. The company had also allegedly promised investors to provide plots at Nimapada in Puri district,” said an EOW official.