Two More Held in Ponzi Scam

Published: 31st October 2014 06:06 AM  |   Last Updated: 31st October 2014 06:06 AM   |  A+A-

SALEPUR: Nischintakoili police on Wednesday arrested two more employees of DP Investment Services Private Limited, a chit fund agency of DP Group of companies. The arrested are director Maheswar Tripathy of Sahadebpur and agent Biswa Bhusan Nanda of Gopapur. Earlier, police had arrested three persons including managing director of the ponzi firm Debasis Panda and directors Surendra Sahoo and Alok Sahoo. 

Police sources said DP Group, which was established in 2007 with head office at IRC Village in Bhubaneswar, had opened 12 branches in Cuttack, Kendrapara, Jajpur, Jagatsinghpur, Khurda and Balasore districts besides Baripada and collected money from public to invest in DP Investment Services Private Limited and DP Housing and Infrastructure Private Limited.

The company had promised to pay `2500 as interest per month against an investment of `one lakh. More than `25 crores were allegedly collected from public by the ponzi firm. The company shut down all its branches in December, 2012.

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