Odisha police arrested the MD of a Kolkata-based firm

Bhubaneswar: The Economic Offenses Wing (EOW) of the Odisha Crime Branch has arrested the managing director of a Kolkata-based chit fund company for his alleged involvement in a Rs 2.62 crore fraud case in Odisha, an official said here on Tuesday.

The accused has been identified as Jaydeep Raha, MD of Jetex Ocenair Pvt. Ltd. The arrest was made in a case registered on the report of one Subash Chandra Pradhan of Bhanapur under Balanga PS of Puri district.

The EOW official said chit fund companies Ambitious Diversified Projects Management Ltd., Kolkata and OAK India Multistate Credit Co-operative Society, represented through their directors and members, illegally collected Rs 2.62 crore from 1,968 investors of Odisha during the period 2010 and 2014, under the lure of high interest repayment.

They subsequently closed their offices without paying the interest as well as the principal and fled the locality, the official said.

During the investigation, the police found that out of the above amount collected in 2011-12, an amount of about Rs.1.83 crore was diverted to the account of Jetex Oceanair Pvt. Ltd. whose MD is the present accused Jaydeep Raha.

After being detained, he could not give a satisfactory answer about receiving such a huge amount, they said.

Three cases have also been registered against the chit fund company in West Bengal.

Earlier, MD Omkar Singh and other directors Kunal Tiwary, Arshad Hussain and Mringanka Sekhar Chakrabarty of the chit fund company were arrested in the case.

Leave a Reply

Your email address will not be published. Required fields are marked *