BHUBANESWAR: The Economic Offences Wing (EOW) of Crime Branch on Thursday arrested Sudarsan Senapati, one of the directors of chit fund company M/S AkashIndia Multi Complex Private Limited, for allegedly cheating investors to the tune of Rs 3 crore.
EOW had registered a case against Akash India in May, 2017. The company, its managing director Kedar Nath Sahoo and other directors were accused of cheating investors with the promise of providing high rate of interest on their deposits.
As per EOW, Sudarsan Senapati and other officials of the firm collected the money from investors under various schemes between 2011 and 2016. Initially, the accused paid meagre amounts to the investors to gain their confidence but later stopped making payments, closed the firm’s offices and fled.
Akash India is registered with the Registrar of Companies in Cuttack and had its office at Dumduma in the State Capital. The firm had its branch offices in Niali, Charichhak, Puri, Astaranga, Panikoili, Brahmagiri, Jagatsinghpur and other places in the State.
Senapati, who had been absconding, was apprehended and produced before a designated court under Odisha Protection of Interests of Depositors (in financial establishments) Act in Cuttack, said an EOW officer.
EOW had earlier arrested Akash India’s managing director Kedar Nath Sahoo, director Suresh Chandra Sahoo and chief executive Subash Chandra Mohanty in connection with the case.
The movable and immovable assets amassed by the accused out of public deposits have been attached under section 3 of OPID Act. Investigation into the case is on, said the officer.