The Ganjam police on Sunday night arrested a director of a chit fund company which had duped investors of crores of rupees in Ganjam district.
The arrested person
was identified as Aswini Kumar Nayak, one of the directors of Katloon Credit Cooperative limited. He belongs to Ramanda under the Buguda police limit in Ganjam district.
According to Buguda police station IIC Ranjan Kumar Dey, the accused was picked up by the police from a hotel in Brahmapur. Dey said the police had registered case against the ponzi firm when at least 24 investors of the area complained against the company for duping depositors of around Rs 1.36-crore.
Besides Buguda, the organisation was also spreading its business in other areas of the district and collected money from the investors.
Notably, Katloon was registered in November 2010 and since then the firm had opened its offices in the district, mostly in the Buguda and Aska area.
The Ganjam police are investigating the case. “We will decide on whether to handover the case to the Economic Offence Wing of the Crime Branch, after examining the sensitivity of the case and amount involved,” said Ganjam SP Narsingh Bhol.
