Man held for chit fund fraud in Odisha

The Economic Offences Wing (EOW) of Odisha Crime Branch arrested a man from Delhi for duping several gullible investors in Odisha. 

Published: 09th September 2017 02:01 AM  |   Last Updated: 09th September 2017 10:22 AM   |  A+A-

By Express News Service

BHUBANESWAR:  The Economic Offences Wing (EOW) of Odisha Crime Branch arrested a man from Delhi for duping several gullible investors in Odisha.  The accused, Bikash Kumar Bhuyan of Samidanga in Cuttack district and his associates had set-up a firm - Creative Express Events and Promoters in 2015. They had opened the office at Gajapati Nagar in the Capital City. Together they swindled more than `3 crore by duping several investors on the pretext of either providing them higher returns on their deposited amounts or providing plots in the city from the profits earned by the company.


The management of Creative Express had conned the investors by claiming that their money would be invested in reputed companies. After collecting the money for almost a year, they shut down the office, which they were running at a rented accomodation in Gajapati Nagar, and fled.After his arrest on Wednesday, Bhuyan was produced before metropolitan magistrate, New Delhi and is being brought to the State on transit remand. He will be produced in OPID court in Cuttack, EOW officials said.

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