Home STATE CITY Odisha chit fund scam: EOW nabs another Vista director

Odisha chit fund scam: EOW nabs another Vista director

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Reported by Santosh Jagdev
Bhubaneswar, May 22:

A day after the arrest of a director of M/s Vista Management Services Ltd , the Economic Offences Wing (EOW) of the Odisha Crime Branch today arrested another director of the company from Bhubaneswar.

Manoj Patnaik (with towel around the neck) at the Crime Branch office after his arrest by the EOW
Manoj Patnaik (with towel around the neck) at the Crime Branch office after his arrest by the EOW

The arrested director has been identified as Manoj Patnaik, sources in the EOW said.

A native of Bolangir district, Patnaik used to collect deposits from the investors in the district during his tenure as director of the Ponzi company.

With this, the EOW has arrested three senior officials of the Vista company, including its chairman cum managing director (CMD) Deb Kumar Panda, so far.

On May 17, the EOW had arrested Panda from the city railway station in the state capital while he was leaving for Vizag on the Bhubaneswar-Tirupati Express to catch a flight to Singapore. The Crime Branch has taken Panda on a three-day remand for further interrogation.

Four days after the arrest of Panda, the EOW arrested Bijay Swain, a former director of the company, from Bhubaneswar yesterday.

The Ponzi firm had allegedly duped investors of Rs 50 crore by floating various schemes promising heavy returns on the deposited money.