Chit fund company Flourish India director Aditya Kumar Bisoi was arrested by the Economic Offences Wing (EOW) of the State Crime Branch here on Monday night in connection with an alleged chit fund scam.
The EOW arrested Bisoi on the basis of several complaints lodged by small investors against the company at the Barapali police station of Bargarh district. He would be produced before a local court at Barapali on Tuesday, sources said. The nonbanking financial company had been allegedly collecting money illegally through its 132 branches across the State during last eight years, said the sources.
Earlier, the Crime Branch police had arrested two officials of the company, CMD Ballav Prasad Nayak and former CMD Prasanna Dash, for duping investors. According to Crime Branch officials, the company duped investors of more than Rs 100 crore in the State. The EOW is investigating into the collection and transaction of money and other details of the company’s investments, the official added.