Odisha chit fund scam: Flourish India director arrested

Sambad English Bureau Published On : Jan 3, 2015 at 9:12 PM Updated On : Jan 3, 2015 at 9:13 PM

Odisha Sun Times Bureau
Bhubaneswar, Jan 3:

The Economic Offence Wing (EOW) of the Odisha Crime Branch today arrested Pranati Das, director of Flourish Development of India Pvt Ltd, a chit fund company, from Medinipur in West Bengal.

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Das is the fifth director of the company to be arrested by the EOW.

Among the four is the company’s chairman cum managing director (CMD) Prasanna Dash.

Altogether 14 employees of the company, including the four directors, have been arrested so far, he said.

The company had duped the investors of more than Rs 100 crore after collecting money illegally and against false promises through its 132 branches in the state during last eight years.

The EOW on December 23 last year had submitted all relevant documents to the state Finance department for confiscation of properties of the company.