BHUBANESWAR: Skeletons continue to tumble out of mysterious cupboard of Ollywood-chit fund companies. During its investigation, the Crime Branch (CB) has stumbled upon a startling money trail between the two.
In the past couple of years, at least 30 films were produced in the State with the money mobilised through gullible depositors and unsuspecting investors, Crime Branch sources said.
As the Economic Offences Wing (EOW) nailed another chit fund company owner Pravas Chandra Rout who duped people of `230 crore, his fetish for the glamour world did not come as a surprise for the sleuths. Rout had produced four Odia films - To Akhire Mu (2010), Most Wanted (2011), Balunga Toka (2011) and Rangeela Toka (2012) - with high profile actors in the cast.
If sources are to be believed, Rout’s investment in the glamour world was beyond these movies. “There are many more films and tele serials in which Rout pumped in his ill-gotten wealth,” a film industry insider said.
Be it managing director of Umamani Constructions Narayan Nayak, who produced three films, or a director of Astha International Pvt Ltd, who was reported to have invested in films, the list seems to continue as the investigating agencies dig deeper.
Recently, Saheed Nagar police arrested Niranjan Rana, who is the managing director of Maa Tarini Eastcon Builders, on charges of cheating. He is a well-known film producer with four star-studded reels in his kitty.
Yet another chit fund company, Star Consultancy Ltd headed by Triveni Mohanty had produced a film before the firm came under scanner for financial irregularities. Similarly, Artha Tatwa (AT) Group chief Pradip Sethi had forayed into Ollywood and tele-soap production.
While the EOW continues to unravel the mystic affair between Odia film industry and chit fund companies, senior police officials believe that investing in films is convenient and covert mode of legitimatising black money. A dozen out of 30 odd Odia films clicks at the box office in a year.
“There cannot be a better gamble than this. He not only converts the tainted money into white but the ponzi firm’s owner derives substantial profit. However, for some among the rot, it is just an obsession to get access and proximity to film stars who flaunt filthy,” the industry insider added.
When contacted, Special DG of Crime Branch Bijay Sharma said, “We are verifying the transactions between chit fund companies and movie production houses.”