Post News Network
Bhubaneswar, April 10: The Central Bureau of Investigation (CBI) Friday conducted simultaneous raids at nine places in West Bengal and one in Orissa on the offices of Royal International Shares, a ponzi firm.
“A case was registered against the company on the orders of Supreme Court after it was alleged that the firm was involved in criminal conspiracy, cheating, and criminal breach of trust,” a CBI official said.
Ten CBI officials also raided the house of Sudhir Behera, a former director of the company at Choudwar in Cuttack district and seized incriminating documents. The agency’s officials also raided the company’s branch office at Gajapati Nagar here.
“Royal International Share’s head office is situated in Kolkata. The company has branches in Orissa which swindled money from gullible investors,” the sources said.
