A special team of the Economic Offences Wing (EOW), Bhubaneswar arrested Bikramjit Bhowmik, one of the absconding accused in the multi-crore Rose Valley chit fund scam in Odisha.
Bikramjit, who was the Regional Manager of the Rose Valley Group of companies of Odisha region, was absconding since registration of the case by the EOW in 2013.
He was arrested from Midnapur on Monday and has been produced before the Balasore OPID court after being brought to the State on a transit remand.
The EOW had earlier registered a case under Sections 420, 120 B and 34 of the Indian Penal Code (IPC) and Section 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act 1978 in 2013 against the Chairman, Directors and other officials of Rose Valley Group of Company for collecting public deposits of crores of rupees before duping the investors.
Earlier, the several persons including Gouatam Kundu and Sibamoy Dutta, the Chairman and Managing Directors, respectively of the Rose Valley Group of Companies were arrested in connection with the case.
EOW officials said it was alleged that the Rose Valley Group through its officials had collected crores of rupees from several investors in Odisha with false promise of payment of high rates of interest.
Initially, the company was collecting public deposits for its construction company, but since 2010 collections were made against different money circulation schemes by opening its branch offices in different parts of West Bengal and Odisha including a branch office at Soro, Balasore.
It has been ascertained that Rose valley Group of companies have collected crores of rupees from depositors from all over Odisha. The company cheated the investors by duping an amount of Rs. 2.82 crores (approx.) involving numerous investors in Soro branch. Earlier, Badal Chandra Kar who was the Branch Manager of Soro Branch of the Company was also arrested, EOW said in a release.
“Bank balance to the tune of more than Rs. 83 crores as well as land and buildings having value of more than Rs. 11 crores in the name of Rose Valley Group of Companies have been attached under the provision of section 3 OPID Act, 2011. Earlier four charge-sheets have been filed in this case by EOW, Bhubaneswar against the accused persons arrested earlier as well as against the accused company. The same are sub-judice in the court of Presiding Officer under OPID Act, Balasore,” EOW added.