Chit fund firm director arrested in Odisha for duping small investors of Rs 3 crore
By Sukanta Kumar Mohanty
BHUBANESWAR, NOV. 25: The Economic Offences Wing (EOW) of the Odisha Crime Branch on Thursday arrested Sudarsan Senapati, one of the directors of chit fund company Akash India Multi Complex Ltd, for his alleged involvement in duping investors of Rs 3 crore.
A case in this connection was registered by the agency on the basis of a written complaint filed by one Debendra Kumar Nayak.
As per the allegation, Akash India Multi Complex Ltd, represented through its MD Kedarnath Sahoo and other directors, had duped a large number of investors to the tune of crores of rupees by promising high returns on investments in various schemes launched by the company. It was revealed during investigation that Sudarsan Senapati along with other accused persons during the year 2011 to 2016 had collected approximately Rs 3 crore from people under different schemes of the company.
Initially, the company had made some small payments to the investors to win their trust but subsequently from the year 2013, it stopped making any payment to the investors and closed down offices functioning at different places while the accused persons absconded.
Earlier in this case, accused MD Kedarnath Sahoo, director Suresh Chandra Sahoo and chief executive Subash Chandra Mohanty were arrested.
The movable and immovable assets of the company have been attached under Section 3 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.
