EOW arrests ponzi firm director

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Post News Network
Bhubaneswar, Jan 9: The Economic Offences Wing (EOW) of Orissa police Friday arrested the director of a chit fund company camouflaged under a real estate firm. DIG CB Sanjay Kumar told Orissa Post Braja Sundar Mishra was operating a ponzi firm, India Land Assets limited in IRC village here. “Mishra was running many sister outfits under Land India Assets and these companies were luring investors to deposit money in various schemes,” he said. Kumar added, “Mishra collected around Rs 8 to 10 crore from depositors in Bhubaneswar, Polasara and other places of Ganjam district between 2011 and 2013. He promised to provide 3 per cent interest on the deposits within 55 days and double the deposit amount in two years.” Mishra had told the investors that they could get a plot of land if they do not require interest. “Recently the investors complained that Mishra was not returning their money. On enquiry, we found Mishra was running a ponzi firm and that he had shut the office in July, 2013. We nabbed him and the EOW registered a case in this connection January 5, 2015,” Kumar said.
6 held for gambling
Choudwar: Police raided a gambling den near Baghrabahini temple in ward No.8 Friday and arrested six persons. The accused are identified as Manas Nayak (32), Kalia Dalei, Banka Hembram, Aju Thakurda, Sridhar Nayak and Saras Behera, all residents of OTM Colony. Police seized two motorcycles and Rs 9,000 from their possession.
Linemen attacked
Kantapada: Police Friday registered a case in connection with an attack on some electricity department employees at Naikula slum in San Patasundarpur Thursday evening. Police said the electricity officials had conducted raids and seized five water pumps belonging to farmers who had taken electric connection illegally to irrigate their farms. The officials were on their way back after the raids when some angry farmers attacked them and vandalised their vehicle.