The Economic Offences Wing (EOW) of the State Crime Branch on Monday took chit fund firm Vista Management Services limited managing director Deb Kumar Panda on a three-day remand to interrogate him about cheating and illegal money transaction.
The EOW would quiz Panda to know about his company’s investment, collection and money circulation within five years of its functioning. Panda, who had allegedly duped investors of Rs50 crore, was arrested by the EOW on Sunday from the Bhubaneswar railway station while he was leaving for Visakhapatnam by an Express train to catch a Singapore flight.
He was arrested on the basis of a complaint lodged by investors of western Odisha on April 23 this year. Notably, Panda of Kalahandi district had started the ponzi firm in 2008-2009 by opening its corporate office at Cuttack Road in Bhubaneswar.
Meanwhile, the Odisha High Court has rejected the bail application of Kamyab TV channel owner Manoj Dash, who is in jail ever since he was arrested by the CBI in September last in connection with his alleged link with a chit fund company.
Justice JP Das last week rejected the bail application of Dash, whose bail had also not been granted by the Bhubaneswar-based CBI Court and the Khordha District and Sessions Court earlier last year.
It may be mentioned here that a BJD MlA and his associate, a builder and a police officer arrested by the CBI in this connection were earlier granted conditional bails by the High Court. Former Advocate General Asok Mohanty, facing similar offence, too was granted bail by a lower court in Bhubaneswar.