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Odisha Sun Times Bureau
Balasore, Feb 21:

The Special Designated District Court for chit fund here Monday ordered for attachment of properties of Ponzi firm Ashore Infrastructure Ltd located in Balasore.

The order was issued by Judge Gyana Ranjan Mohanty.

Notably, Deepak Kumar Pothal of Madhpura of Remuna in Balasore district was working as the CEO of Ashore Infrastructure Ltd at the firm’s Ashok Nagar office in Bhubaneswar in 2011.

According to reports, Deepak had allegedly mopped up about Rs 23.50 crore for the firm from gullible investors in the districts of Mayurbhanj and Balasore by floating different lucrative schemes.

By utilizing about Rs 1.64 crore from the corpus, he had purchased a total of 27.96 acres of land at different places in Balasore and Mayurbhanj districts. This apart, he had deposited around Rs 48.52 lakh in different banks.

However, the firm shut its offices in 2013 following raids on chit fund firms.

Following complaints by affected investors, the Crime Branch had seized several documents of the Ponzi firm.

On directives from the government, then Balasore ADM Akshay Kumar Mohanty had filed a misc case 5/14 against the firm’s Managing Director Biresh Kumar Choudhury, CEO Deepak Kumar Pothal and Project Officer Manas Ranjan Sahoo.

 

 

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