Many dubious chit fund companies on the guise of providing high returns had duped many gullible investors of crores of rupees in the State. Later, their promoters and top officials had vanished. These fly-by-night operators had ruined many small investors financially.
In a crackdown against such a dubious firm, Akash India Multi Complex Limited, the Economic Offences Wing (EOW) of the Crime Branch on Thursday arrested Sudarsan Senapati, one of the directors of the firm on charges of duping investors of Rs 3 crore.
Later, Senapati was forwarded to court.
One Debendra Kumar Nayak had filed a complaint with the EOW alleging that Sahoo, who identified himself as the MD of the ponzi firm, and other directors of the company have duped a large number of investors crores of rupees on the pretext of returning high interest on their deposits under the various schemes launched by the company.
Based on the allegations, the EOW had initiated a probe into the matter and found Akash India Multi Complex Ltd was incorporated with ROC, Cuttack and had its registered office at Dumuduma and Khandagiri in Bhubaneswar. It also has branch offices at Niali, Charichhak, Puri, Astaranga, Baungarigaon, Panikoili, Bramhagiri and Jagatsinghpur.
The EOW said Senapati along with other accused had collected approximately Rs 3 crore from investors under different schemes of the company from 2011 to 2016.
The company initially had made some meagre payment to the investors to win their trust but subsequently from 2013, stopped making any payment to the investors and closed down their offices functioning at different places. The accused were on the run thereafter.
The movable and immovable assets created by the accused companies from out of the public deposits have been attached under section 3 of OPID Act, 2011. The investigation in the case is underway, added the EOW.
Prior to Senapati, the firm’s managing director (MD) Kedarnath Sahoo, director Suresh Chandra Sahoo and chief executive officer Subash Chandra Mohanty had been arrested in connection with the case.