‘Absconding’ Director Of Ponzi Firm In Odisha Arrested For Duping Investors Of Rs 3 Crore

Bhubaneswar: The Economic Offences Wing (EOW), Bhubaneswar, on Thursday arrested Sudarsan Senapati, a director of Ponzi firm Akash India Multi Complex Ltd, for allegedly duping investors of crores of rupees.

The investigation, which was conducted on the basis of a complaint lodged by Debendra Kumar Nayak, revealed that Senapati along with other directors of the firm had allegedly collected Rs 3 crore from people between 2011-2016 under different schemes launched by the company with the promise of a high rate of interest on their deposits.

Initially, the company had made some meagre payments to the investors to win their trust. From 2013, they stopped the payments and shut their offices. They had been absconding since then.

The company incorporated with ROC, Cuttack, had its registered office at Dumuduma, Khandagiri, Bhubaneswar and its branch offices at Niali, Charichhak, Puri, Astaranga, Baungarigaon, Panikoili, Bramhagiri and Jagatsinghpur.

Earlier, managing director of the firm Kedarnath Sahoo, director Suresh Chandra Sahoo and Chief Executive Subash Chandra Mohanty were arrested in this connection.

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 released added.