Chit Fund scam: EOW nabs Tresty Securities MD
Bhubaneswar: The Economic Offences Wing (EOW) of Crime Branch of Odisha police on Saturday arrested the managing director of Tresty Securities Ltd Dayanidhi Mohapatra from Nashik in Maharashtra for allegedly duping depositors in Odisha of Rs 10 crore.
Mohapatra, who was brought in a transit remand to Bhubaneswar from Nashik in a flight, had opened branches of his company and collected money from investors in Balasore, Soro, Bhadrak and Betanati areas under different schemes while promising big returns and high interest.
The duped amount might go up further, EOW sources said.
Mohapatra, presently kept in the Crime Branch headquarters office in Cuttack, is likely to be produced before a local court while the state investigating agency would appeal the court to take him on remand for further interrogation to elicit the amount of money his company has collected and invested and the persons involved in the scam.
Preliminary investigation has revealed that the company has invested the depositors’ money in a reputed transport agency and group of hotels, sources in the Crime Branch said.
For the past six months, the Crime Branch had raided at different places in the state to nab Mohapatra, but in vain.
Following a tip-off that he was hiding somewhere in Nashik, the State Crime Branch ADG BK Sharma sought the help from his Nashik counterpart for his arrest.
On Saturday, a joint team of Crime Branch officials of Odisha and Nashik raided Mohapatra’s hideout and arrested him.
It may be recalled that the company had closed its offices in Odisha in 2013 and later disappeared with the collected amount. In May this year, market regulator the Securities and Exchange Board of India (SEBI) had lodged a complaint with the state Crime Branch about Tresty Securities Ltd and recommended action against the company officials.