EOW arrests another Ponzi firm director
Bhubaneswar: The Economic Offences Wing of Odisha Police today arrested another director of Vista Management Services Ltd on charge of duping investors, a police official said.
The arrested director has been identified as Manoj Patnaik, a native of Bolangir district, the official said.
Patnaik used to collect deposits from the investors in the Bolangir district during his tenure as Director of the Ponzi company.
The EOW has so far arrested three senior officials of the Vista company, including its Chairman-cum-Managing Director (CMD) Deb Kumar Panda.
Four days after the arrest of Panda, the EOW arrested Bijay Swain, a former director of the company, from Bhubaneswar yesterday.
The Ponzi firm had allegedly duped investors of Rs 50 crore by floating various schemes promising heavy returns to investors.