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Chit fund scam: Flourish India director arrested

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OST Crime Bureau
Bhubaneswar, Oct 22:

Non-banking financial company Flourish India director Aditya Kumar Bisoi was arrested by the Economic Offence Wing (EOW) of the State Crime Branch here on Monday night for allegedly duping investors across the state.

Crime Branch DIG Rajesh Kumar informed that EOW personnel arrested Bisoi on the basis of several complaints lodged by investors against the company at Barapali police station of Bargarh district. He would be produced before a local court in Barapali on Tuesday, the DIG added.

Kumar further said the company duped investors of more than Rs 100 crore in the State. The EOW is investigating the collection and transaction of money and other details of their investments, he added.

The company had been allegedly collecting money illegally through its 132 branches across the State during last eight years, said the sources.

Earlier, the probe agency had arrested two officials of the company CMD Ballav Prasad Nayak and former CMD Prasanna Dash for allegedly duping investors in the State.