Non-banking financial institution Astha International’s State chief Subhransu lenka, who was maintaining a lavish lifestyle by riding luxury cars and visiting his home by hiring helicopter, was sent to jail on Saturday for illegal money circulation and duping thousands of investors in the State.
lenka was arrested by the Economic Offence Wing (EOW) of the Crime Branch on Friday night from the city on the basis of the complaints of investors who had alleged that the company cheated them of around `500 crore.
A special team of the Crime Branch interrogated lenka for the fraud case. An investigation is on to nab the other culprits, said Crime Branch official sources.
Crime Branch DIG Rajesh Kumar said that the investors of the company had lodged a complaint on Thursday at the EOW office here against the company’s State head. “The CB is trying to get information from lenka regarding company’s investment, property and other persons involved in the fraud case,” he said.
Astha International and Astha Goat Farming India Private limited were having several offices in the State, including in Bhubaneswar, Brahmapur and Baleswar, which were doing money circulation by launching several schemes, informed the DIG.
The DIG said the company was offering interest at high rate to the investors on fixed deposits. Hoping hefty returns, investors were depositing money, he added. The company’s Surat branch also cheated the Odia investors. The Gujarat police had arrested a few officials of the company after they received complaints on illegal money circulation. Earlier, investors had lodged a complaint at Baidyanathpur police station at Brahmapur city against the company.