CB arrests Flourish India director for duping investors

Bhubaneswar: Aditya Kumar Bisoi, director of Flourish India has been arrested here in connection with an alleged chit fund scam.
 
Bisoi was arrested by a team of the economic offence wing (EOW) of the state crime branch on Monday night after several complaints were lodged against the chit fund company at Barapali police station of Bargarh district. Sources said the chit fund company's director will be produced before a local court in Barapali on Tuesday.
 
In the past eight years the chit fund company had been allegedly collecting money illegally through its 132 branches across the state, sources added.
 
Earlier, the EOW had arrested two officials of the chit fund company for allegedly duping investors in the state. The arrested functionaries were the company’s CMD Ballav Prsad Nayak and former CMD Prasanna Dash.
 
“Preliminary investigation shows the company duped investors more than Rs 100 crore in the state. We are investigating from where they have collected money and the details of their investments,” a senior Crime Branch official had said.
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