Reported by Santosh Jagdev
Bhubaneswar, May 18:
A designated court of Economic Offences Wing (EOW) of Odisha Crime Branch (CB) in Cuttack today allowed the investigating agency to take Deb Kumar Panda, the managing director of chit fund company M/s Vista Management Services Limited on 3-day remand for further interrogation into the case.
The court’s decision came after hearing on a petition filed by the counsel of crime branch in the court seeking to take the accused on 4-day remand, sources in the CB said.
Panda was arrested by the EOW officials yesterday for duping investors in Odisha of at least Rs 50 crore by floating various schemes promising heavy returns on the deposited money.
Panda, who hails from Kalahandi, was arrested from the Bhubaneswar railway station while he was leaving for Vizag on Bhubaneswar-Tirupati Express to catch a flight to Singapore.
The EOW had also seized passport, visa, air ticket, some foreign currency and hotel booking receipt from the possession of the accused at the time of his arrest.
Panda had started the Ponzi firm in 2008-2009 and opened its corporate office at Cuttack Road here.