BHUBANESWAR: The Commissionerate Police on Tuesday arrested an executive officer of IQBS Pvt Ltd in connection with the multi-crore e-publishing scam which surfaced on May 29.
A team of Kharavel Nagar police nabbed the executive officer Urvashi Nayak from Keonjhar district. A resident of Kashipur within Turumunga police limits, 22-year-old Nayak was staying in Satya Nagar area here.
While two complainants who were duped by the company had reported about Nayak in the last week of May, Nayak was on the run after arrest of retired Navy officer Nrusingha Prasad Patnaik on June 9 on charges of a similar fraud by APS Pvt Ltd which allegedly duped over `100 crore from youths across the country. The complainants reported that they were lured into IQBS after coming in contact with its directors Vikrant Sharma, Kuldeep Sharma and Sumeet Bharadwaj.
The company trapped jobless youths with lucrative remuneration for preparing soft copies of books in form of PDF files stored into CDs and pen drives or posting those on a particular website. The company fleeced a significant amount of money before recruiting the job-seekers.
Over 500 persons had registered themselves with IQBS which shut its operations in the State after embezzling more than `10 crore from youths in the Capital City. The company was registered with the Registrar of Companies Cuttack this January and was operating from a commercial centre at Kharvel Nagar.
While the directors, who hail from Agra are on the run, the Commissionerate Police has planned to send a team to Uttar Pradesh to trace the accused. Bank accounts of the company have been frozen.