BHUBANESWAR:The Central Bureau of Investigation (CBI) on Friday submitted preliminary chargesheet against two heads of the ponzi firm Midas Touch Group.
The investigating agency has named Soubhagya Kumar Samal and Nirupama Samal, the proprietors of Midas Touch Group and charged the duo for allegedly receiving deposits from thousands of investors and swindling the funds later.
Besides, two subsidiaries of the Group - Midas Touch Assets and Securities Ltd and Midas Touch Realtech Ltd - were also named in the chargesheet. Both the firms were headed by Soubhagya, the Managing Director of the Group.
The duo has been charged under Sections 120 B, 420, 409 of the IPC and Section 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act.
It may be noted that CBI had raided Midas Touch’s office in the Capital City and branch offices at other places in the State in August, 2014 and stumbled upon several incriminating documents. The CBI had also raided Samal’s flat at an apartment near Sainik School during the same period.
In 2013, cheating cases were registered against the company in Angul, Dhenkanal and Ganjam districts after which some officials of the firm were arrested.
Besides running money circulation schemes, the company had ventured into real estate, life insurance, healthcare, infrastructure development and entertainment.
Further investigation in the case is on and some more arrests are in the offing, sources said.