The Economic Offences Wing (EOW) of the State Crime Branch on Friday arrested one more director of the chit fund firm Tresty Securities limited, Rashmiranjan Mohapatra, from here as the company has allegedly duped investors of over `10 crore.
Earlier, two more top officials, managing director Dayanidhi Mahapatra and director Hari Arjun Panda, of the company had been arrested by the EOW. Mahapatra was arrested from Nasik in Maharashtra and Panda from Bhadrak.
A case was registered against the company on the report of one Prasanta Kumar Majhi from Basudevpur in Bhadrak district.
The complainant had alleged that Dayanidhi Mohapatra and other directors of the company collected crores of rupees from the investors by promising a high rate of return and closed down the firm’s offices without paying interest as well as the principal amounts.
In March this year, the Securities and Exchange Board of India (SEBI), had issued an order against the Tresty Securities ltd directing it not to mobilise funds from investors.
The company and its past and present directors were also directed not to dispose of any property or alienate the assets of the company and not to divert any funds raised from public through issuance of the impugned securities kept in its bank accounts and/or in the custody of the company without prior permission of the SEBI until further orders.
The company was engaged in fund mobilising activity through issue of preference shares to more than 49 persons without complying with the provisions of the Companies Act, 1956, the SEBI had said.