Post News Network
Bhubaneswar, June 10: The Oscar Group of Companies (OGC) chairman diverted investors’ money into producing at least four Oriya movies in addition to running Oscar Science College at Kendrapara, said special Crime Branch DG BK Sharma here Friday.
Chairman Pravash Chandra Rout was brought by economic offence wing (EOW) of Crime Branch (CB) here after his arrest from a guest house in New Delhi Thursday. Rout had fled soon after the arrest of the company’s managing director Munna Patra.
The ponzi company had opened 49 branches in Orissa, 58 in Gujarat and six in Maharashtra. Rout in connivance with company’s other directors allegedly collected `230 crore from depositors by promising attractive returns. After collecting money, the company was shut.
Sharma said the investors’ money was used to produce Oriya movies To Akhire Mu (2010), Most Wanted (2011), Balunga Toka (2011) and Rangeela Toka (2012).
Sharma said a nexus existed among chit fund operators, real-estate builders and film producers. “Money collected by chit fund firms were invested in movie-making and buying properties,” Sharma said.
“But, why did they put chit fund money in movie business is still under investigation,” he added.
Sharma believed movie-making is a profitable business that prompted chit fund operators and builders to produce movies.
Sharma declined to say whether the actors or other crew members who were part of the movies will be questioned as well.
A case (71/2015) at Udham police station at Surat in Gujarat was also registered against Rout. He has been charged under OPID Act, Prize Chits and Money Circulation Scheme (Banning) Act and for forgery under Indian Penal Code.
The CB has seized bank accounts of `11,69,659 of Rout. Sharma said he has urged the government to attach 26 acre lands belonging to Rout.
Meanwhile, a local court here has granted CB to take Rout on a five-day remand. Last week, the Commissionerate Police had arrested Niranajan Rana, owner of chit fund firm Maa Tarini Eastcon Private Ltd, for duping investors of over `70 crore. Rana has also produced several Oriya movies.
