Odisha EOW arrests proprietor of private company in Rs 2 crore fraud case

Bhubaneswar: The Economic Offence Wing (EOW) of the Odisha Crime Branch has apprehended Bimalananda Bhuyan, the absconding proprietor of Quick Click Ad Media, over his alleged involvement in a fraud to the tune of Rs 2 crore.

Bhuyan was arrested from Lucknow in connection with EOW PS Case No. 10, filed on December 17, 2020, under sections 406, 420, 467, 471, and 120-B of the IPC.

Ramya Bhuyan, his wife and business partner, was also arrested recently. She had been working with a real estate company in Mumbai using falsified Aadhar details.

The case was registered following a complaint by Bikash Podar from Sambalpur, who accused Bimalananda Bhuyan and Ramya Bhuyan of defrauding 53 investors of Rs. 1.2 crore. They promised to supply LED monitors for advertisements through their firm, Quick Click AD Media.

The couple enticed investors with two lucrative schemes. The first scheme required an investment of Rs. 54,000 for a 3’x3′ LED monitor, promising a monthly return of Rs. 3,100 for three years. The second scheme required an investment of Rs. 3 lakhs for a 6.4″x6.4″ LED monitor, offering 70% profit for three years, after which the investor would receive 30% of the profit, with the remaining 70% going to the LLP.

Through these schemes, the couple collected approximately Rs. 2 crores from over 100 investors, then absconded without purchasing any LED monitors.

The firm primarily operated in the districts of Khordha, Koraput, Nayagarh, Mayurbhanj, Balasore, Rourkela, Sambalpur, and Ganjam. Its head office was located in Shyamnagar, Raipur, Chhattisgarh, with branch offices in Jagdalpur, Chhattisgarh, and Jaydev Vihar, Bhubaneswar.

Also Read

Comments are closed.