Several investors of Pattamundai, who allegedly had deposited lakhs of rupees with a private financial institution “AM Financial Solution limited and AM Fund Managers limited,” on Monday knocked the door of the administration demanding arrest of the officials of the chit fund firm and step for recovery of their hard earned money.
According to the ill-fated investors, one Dipak Kumar Behera, who is a former member of Zila Parishad Zone-18 and director of the AM Financial Institution and AM Fund Managers limited, had targeted the gullible locals and lured them to deposit their cash with the firm over several tall promises.He had promised interest at three per cent per month on the deposited sum of money, besides attractive annual interest on fixed deposits. As a result, the agents of the firm had collected lakhs of rupees.
During the initial stage of operation, the officials paid the assured dividends to the depositors in order to win the confidence of the investors and attract more people to their schemes. However, they started to cheat the people after a time they had amassed huge sums of money in the form of deposits.Since 2012, the investors were neither getting the dividends nor were their principal amounts returned. The same year, they lodged an FIR at the Pattamundai Police station against the firm.
The Pattamundai Police later registered a case against the director, MD and the vice president of the firm. later, the case was transferred to the Crime Branch’s Economic Offences Wing. But though nearly two years passed, nobody was arrested; the depositors did not get back their money either.
On Monday, the duped investors met the Sub Collector and demanded stern action against the chit fund company and return of their money deposited with the company.When contacted, Sub Collector Pratap Kumar Mishra stated that the district administration would write a letter to the Crime Branch to expedite the inquiry process in the swindling case.