Home CRIME Investors demand action against Odisha ponzi firm

Investors demand action against Odisha ponzi firm


Reported by Santosh Jagdev
Bhubaneswar, May 26

More than 150 investors from all over the state today lodged a complaint both with Saheed Nagar police station and Economic Offence Wing (EOW) of Odisha crime branch, seeking action against the Chief Managing Director (CMD) of Subhasatya Investment Solution Ltd. (SISL) Hemanta Samantaray for duping them by more than Rs 15 crore.

Samantaray, who hails from Bhimtangi area here, had opened the SISL head office in Saheed Nagar area in 2011 and later branch offices in several districts in the state. The company’s agents had collected more than Rs 20 crore from the market promising investors high returns on their deposits before it suddenly closed all its offices in 2012.

Tribhubana Raj Samantaray of Balasore, one of the duped investors said, “We are approaching the CB office for the second time now to submit our grievances. We have failed to get any justice from the probe agency even though we had lodged a complaint with EOW in June last year. The accused is roaming around freely in his expensive car in and outside the city,” said the investor.

Another investor, Pramaya Kanti Nayak of Bhadrak and a school teacher by profession, said the company had taken Rs 3 lakh from him promising to double its money. But when he contacted the company personnel repeatedly after the maturity period, they started avoiding him.



  1. What will ordinary people do when the politicians, police and the Ponzi conmen are in bed together? It is impossible to believe that the local MLAs and politicians are unaware that companies such as Green Ray, Seashore, Green India etc. are operating right under their nose. These companies and their directors must have surely been blessed by the politicians. Otherwise how can their owners brazenly roam around even after having conned so many people. I wouldn’t be surprise if a good portion of the money looted from the people had been used during the just concluded elections. There were stories of people being offered large sums of money, fuel expenses, mobiles etc. The profile of the politicians in the state is looking more and more like the ones of neighboring Seemandhra. They are rich and corrupt while the general population lives on freebies offered by the ruling party.

Comments are closed.