LIVE TV
Odisha
Recommended Stories
Bhubaneswar: The Crime Branch (CB) of Odisha Police on Wednesday arrested two officials of chit fund company Flourish India for allegedly duping investors to the tune of Rs 100 crore in the state. The arrested officials are the company's ex-Managing Director Prasanna Dash and current MD Ballav Prsad Nayak.
Sources said for the past eight years the chit fund company has been allegedly collecting money illegally through its 132 branches across the state.
"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," said Rajesh Kumar, DIG, Economic Offences Wing (EOW).
The EOW arrested the duo on the basis of a complaint lodged in Barapali PS of Bargarh district.
Several properties including under-construction hotel at Mangalajodi, Puri, farm houses in Suanda, Puri and Bhanjanagar in Ganjam District and a milk plant at Umerkote are owned by the company, added sources.
