Reported by Santosh Jagdev
Bhubaneswar, June 11:
The Odisha Crime Branch (CB) today sought permission from the Finance department to confiscate properties belonging to the Golden Land Developers Limited (GLDL), one of the dozens of chit fund companies which have duped gullible investors of huge sums of money.
The Economic Offences Wing (EOW) of the Crime Branch today submitted several documents seized from the chit fund company to the Finance department, informed DIG of CB Rajesh Kumar.
The properties of the company identified include bank deposits worth Rs 84 crores, cash worth Rs 3.69 lakh seized from the company and 53.6 acres of land grabbed at various places such as Berhampur, Ganjam, Puri and Bhubaneswar.
GLDL, a Delhi-based company, which had been running its regional branches at Kandhamal, Boudh, Ganjam and Puri, had duped crores of rupees from its investors promising them to provide land at affordable prices.
The DIG also informed that six cases had been registered against the company and five top officials of the firm had been arrested based on the fraud case lodged by the investors.
“After getting permission from the department, we will confiscate the property of the company,” said the DIG, adding, “We have already attached assets of 10 Ponzi firms.”
Notably, the Finance department has already passed necessary orders to confiscate properties of seven Ponzi firms, namely Seashore Group, Astha International Limited, Sastra Enterprise Limited, Saradha Groups of Companies, Safex India Pvt. Ltd, Ashore Group and Flourish India, while the documents of Green Ray, Rose Valley and Golden Land Developers are in the process of being examined for issue of order for confiscation of properties belonging to the companies.