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Odisha Sun Times Bureau
Rourkela, Aug 2:

The Economic Offences Wing (EOW) of the Odisha Crime Branch arrested Sukant Mohapatra, director of Ashirbad Multipurpose Co-Operative Limited, from Rourkela last night.

arrested

The firm has allegedly duped gullible depositors to the tune Rs 7 crore by promising them of high return on their investment, sources said. Mohapatra had been absconding since a case was registered against Ashirbad Multipurpose Co-Operative Limited and its sister concerns Ashirbad Multi Trade Pvt. Ltd., Ashirbad Multitech & Infracon Ltd., Ashirbad Goat Rearing India Ltd., and Ashirbad Future Care.

The Crime Branch had earlier arrested three officials of the firm, including its Chief Executive Officer (CEO) Swetang Patnaik, sources added.

Ashirbad Multipurpose Co-Operative Ltd had its corporate office at Paikanagar in Bhubaneswar. Swetang Patnaik and other directors of the company had unauthorizedly collected public deposits promising high rate of interest.

However, the company shut down its office without repaying the investors or refunding the invested amount to the depositors.