Odisha chit fund scam: EOW arrests two Ponzi firm directors

Bhubaneswar: Economic Offences Wing (EOW) of the Odisha Crime Branch police has arrested two directors of Ponzi firms Sagarika Realtors Projects India Ltd and Sagarika Mutual Benefits Funds Ltd.

The investigating agency arrested two directors-Sanjit Bhowmik and Mithun Chatterjee from neighbouring West Bengal on Sunday, sources in the EOW said.

These firms had opened a branch office in Cuttack and collected investments to the tune of Rs 4 crore from investors in Cuttack, Jagatsinghpur, Jajpur, Dhenkanal, Kendrapara and Nayagarh. The branch office had been operational between 2009 and 2013, the sources added.

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