Two Held For Duping Investors Of Rs 60 Crore In Ponzi Scheme In Odisha

Preliminary investigations showed the company collected around Rs 60 crore under different schemes from over 1,550 investors from across the state and outside through agents,

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Two Held For Duping Investors Of Rs 60 Crore In Ponzi Scheme In Odisha

The couple was remanded to police custody for three days. (Representational)


Berhampur: 

The managing director of a ponzi scheme company and his wife, who is a director of the firm based in Odisha's Ganjam district, were arrested by the police from Bhubaneswar today for allegedly duping investors of over Rs 60 crore, the police said.

Braja Mohan Patnaik (44) and his wife Tridhara Mohanty (40), managing director and director respectively of Datum Marketing Limited, had been absconding since May this year, Berhampur superintendent of police Pinak Mishra said.

The couple was brought back to Berhampur and produced before a court which remanded them to police custody for three days, he said.

The police had registered two cases against the couple and some employees of the company in 2016 and May this year following which the two fled, he said.

The exact amount duped by the company, which had started functioning in October 2006, from the investors is yet to be assessed.

Preliminary investigations, however, showed it had collected around Rs 60 crore under different schemes from over 1550 investors from across the state and outside through agents, the SP said.

The company had lured people to invest by promising them to multiply their money in a short span of time, the police said.

When the company did not pay the depositors even after the maturity of their investments, several of them had demonstrated in front of the companys office demanding that they be refunded their money.

The police said the company's head office at Kanishi near here has been sealed and documents, computers, hard discs were seized. Four bank accounts had also been freezed.

Two of the company's employees were arrested in connection with one of the cases against the company.



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