Police on Sunday arrested one of the directors of a chit fund organization, which is alleged to have duped crores from the investors in Ganjam district
Aswini Kumar Nayak, one of the directors of Katloon Credit Cooperative Limited, was picked up by the police from a hotel in Berhampur on Sunday late night. Nayak belonged to Ramanda village under Ganjam district's Buguda police station limit.
"We had registered a case against the ponzi firm when 24 investors of the area complained about it," said inspector-in charge, Buguda police station Ranjan Kumar Dey. They had deposited around Rs 1.36-crore in the dubious company, he stated.
Police suspect, the organisation promoted by Bhubaneswar based Kartloon group, might have collected several crores from the district. Katloon was registered in November 2010 and since then the credit cooperative firm has opened its offices in the district, mostly in Bugda and Aska area. "We are investigating about the number of investors and amount cheated by the company," police said.
SP (Ganjam) Narsingh Bhol said, "We are now investigating the case. We will decide on handing over the case to the Economic Offence Wing of the Crime Branch, after seeing the sensitivity of the case and amount involved."
Aswini Kumar Nayak, one of the directors of Katloon Credit Cooperative Limited, was picked up by the police from a hotel in Berhampur on Sunday late night. Nayak belonged to Ramanda village under Ganjam district's Buguda police station limit.
"We had registered a case against the ponzi firm when 24 investors of the area complained about it," said inspector-in charge, Buguda police station Ranjan Kumar Dey. They had deposited around Rs 1.36-crore in the dubious company, he stated.
Police suspect, the organisation promoted by Bhubaneswar based Kartloon group, might have collected several crores from the district. Katloon was registered in November 2010 and since then the credit cooperative firm has opened its offices in the district, mostly in Bugda and Aska area. "We are investigating about the number of investors and amount cheated by the company," police said.
SP (Ganjam) Narsingh Bhol said, "We are now investigating the case. We will decide on handing over the case to the Economic Offence Wing of the Crime Branch, after seeing the sensitivity of the case and amount involved."
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