Duped Odisha investors move EOW against chit fund firm

Reported by Santosh Jagdev
Bhubaneswar, Jun 24:

At least 15 persons on Tuesday lodged a complaint with the Economic Offences Wing (EOW) of Odisha Crime Branch (CB) against a chit fund firm, which has allegedly swindled money to the tune of Rs one crore.

Chit fund

Sriranjan Mohanty, one of the complainants, said that Bibhu Prasad Rath (45) and his wife Adyalaxmi Mohapatra (42) of Badagada used to run two companies Samrudhi Media and Television private limited, and SN Associates and Dream Land Projects at their residence.

He further alleged that the duo took several lakh rupees from the people of the area in 2010 on the pretext of providing them 5 per cent interest on their deposited amount every month, but neither paid the interest nor refunded the principal amount.

An EOW official said the matter is being investigated.

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