Odisha Sun Times Bureau
Bhubaneswar, Nov 17:
Economic Offences Wing (EOW) of the Odisha Crime Branch today arrested a director of a ponzi firm, Tresty Securities Limited from Bhadrak for allegedly duping investors of crores of rupees, Crime Branch sources said today.
The EOW arrested one Hari Arjun Panda, a director of the firm from Bhadrak. The EOW has also seized two luxury cars from his possession, the sources added.
The EOW conducted simultaneous raids at Tresty Securities Limited’s offices at Bhadrak, Bhandaripokhari, Charampa and Khaira today.
It may be recalled that Crime Branch had on Friday arrested managing director of the firm Dayanidhi Mahapatra from Nasik in Maharashtra.
The company is accused of defrauding depositors in Baleswar, Bhadrak, Soro and Betanati promising high returns on their invested amount. The company has allegedly duped gullible investors in Odisha of over Rs 10 crore.
A case was registered against the company on the report of one Prasanta Kumar Majhi from Basudevpur in Bhadrak district.
The complainant had alleged that Dayanidhi Mohapatra, Managing Director and other Directors of Tresty Securities Limited have collected crores of rupees from the investors of Odisha by assuring high rate of interest and closed down the offices without paying the interest as well as the principal amount.
Earlier in March this year, Securities and Exchange Board of India (SEBI), had passed an order against Tresty Securities Ltd directing it not to mobilize funds from investors and the company and its directors were prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further directions.
The Company, its past and present directors were also directed not to dispose off any of the properties or alienate the assets of the Company or dispose off any of their properties or alienate their assets and not to divert any funds raised from public at large through the issuance of the impugned securities, kept in its bank accounts and/or in the custody of the company without prior permission of SEBI, until further orders.
The company was engaged in fund mobilizing activity through issue of preference shares to more than 49 persons without complying with the provisions of the Companies Act, 1956, SEBI had said.
Several investors had registered complaints with the SEBI alleging non-payment of their invested money in redeemable preference shares issued by Tresty Securities Limited.