Chit Fund scam: EOW nabs Tresty Securities director
Bhadrak: Four days after the arrest of the managing director of Tresty Securities Ltd Dayanidhi Mohapatra from Nashik in Maharashtra, the Economic Offences Wing (EOW) of the Odisha Crime Branch police on Tuesday arrested the director of the chit fund company from Bhadrak.
According to reports, a team of EOW officials arrested Hariarjun Panda, director of the Tresty Securities Ltd from Bhadrak in the afternoon.
Acting on the information provided by Mohapatra during interrogation, the EOW sleuths arrested Panda.
Besides, the EOW team also raided four places in the district and seized two cars in the name of the company.
The raids were on till reports last came in.
Sources in the Crime Branch said the chit fund company has duped over Rs 10 crore from the depositors in Odisha.
The company had opened branches in Balasore, Soro, Bhadrak and Betanati areas and collected money from investors under different schemes promising lucrative returns.
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.