Sahadevkhunta police would take AT Group CMD Pradeep Sethi on two-day remand on Saturday to interrogate him about cheating investors of around Rs 15 crore. The police had requested the SDJM court in Baleswar for Sethi’s remand which was granted by the court.
The police had brought Sethi along with his company’s director Manoj Pattnaik here on Thursday evening in connection with a chit fund scam case in Sahadevkhunta police station. The two were produced before the residence of the SDJM here and then sent to Baleswar jail under judicial custody.
They are in judicial remand for six days here. We would interrogate them regarding their schemes, collections and investments,” informed Sahadevkhunta IIC Manoj Nayak.
The gullible investors who had deposited lakhs of rupees in the AT Group to get hefty returns complained before the police that the company cheated them by showing the photos of Ministers and MlAs awarding the company so as to win their confidence. Motivated by the company’s false advertisements, they had invested their important savings in the company, said the investors of Baleswar.
An investor said the company had used goons to shut their mouth. They urged the State Government to confiscate the properties of the company to return their deposited money.
Meanwhile, the Baleswar Town police took another chit firm Mideast CMD Debesh Nayak on three-day remand from Friday. Nayak along with his seven other staff was arrested on June 23 from a lodge in Chandipur after the investors informed about their presence. They were forwarded to the court on Tuesday for duping their investors.
The company was offering 2.5 per cent dividend per month per Rs 1 lakh deposit to the investors. Under the attractive scheme, the company had allegedly siphoned off nearly Rs 100 crore.
“We would interrogate him about his company and utilisation of public money collected from the public through different schemes,” informed Inspector-In-Charge of Town police UC Gadnaik.