Odisha: One arrested in connection with chit fund scam

Last Updated: Tuesday, October 22, 2013 - 19:31

Bhubaneswar: The economic offence wing of the Crime Branch of Odisha Police arrested one Aditya Kumar Bisoi, director of Flourish India in connection with an alleged chit fund scam.

Bisoi was arrested by a team of the EOW last night after several complaints were lodged against the chit fund company at Barapali police station of Bargarh district.

"It is estimated that the company has duped about Rs 100 crore from public by luring them with high interest rates," said Crime Branch DIG Rajesh Kumar.

The chit fund company had been allegedly collecting money illegally through its 132 branches across the state since eight years, police said.

Earlier, the EOW had arrested two officials of the chit fund company for allegedly duping investors in the state. The arrested functionaries were the company?s CMD Ballav Prsad Nayak and former CMD Prasanna Dash.

PTI

First Published: Tuesday, October 22, 2013 - 19:31
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