The Economic Offences Wing (EOW) of the Crime Branch on Wednesday arrested non-banking financial institution Flourish India’s managing director Ballav Prasad Nayak and former chairman-cum-managing director Prasanna Das for duping investors of Rs 100 crore.
It was alleged that the company cheated many investors by opening 132 centres in different districts across the State. On the basis of a case registered at the Barapalli police station in Bargarh district, the EOW arrested the duo.
“From the preliminary inquiry, we got to know that the company allegedly duped the investors of over Rs 100 crore. We are investigating about the company’s investments and transactions,” said Crime Branch DIG Rajesh Kumar.
The company was functioning across the State since 2005. Several properties including under-construction hotel at Mangalajodi in Puri, farm houses at Suanda in Puri district and Bhanjanagar in Ganjam district and a milk plant at Umerkote are owned by the company, added sources. The EOW is preparing to seize the property and freeze the bank accounts of the company, said the CB officials and added that an investigation was on to nab the other culprits involved in the case.
Meanwhile, the investors staged a dharna in front of the EOW office\\ here demanding immediate action against the company so that they could get their deposited money soon.