The Economics Offences Wing (EOW) of the Crime Branch on Friday arrested Oscar chit fund company chairman Prabhas Rout from Delhi on the charge of duping chit fund investors to the tune of Rs 230 crore. The realtor-turned-movie producer was residing in a temple in the Hauz Khas area in New Delhi on a fake identity. He was brought on remand to the State for further interrogation, said Crime Branch Special DG BK Sharma.
Sharma told reporters here the chit fund company had around 100 branches across three States. “The company had 50 branches in Odisha, 45 in Gujarat and five in Maharashtra. The firm’s five flats, 25 acre of land and bank accounts have already been seized,” said Sharma.
Earlier, company managing director Munna Patra had also been arrested and his properties were seized.
Investigating officials said Rout is the owner of an Odia daily, Kranti Odishaand has produced around four Odia movies, including Danda Balunga and Rangila Toka. He is also into real estate and infrastructure business.