Bolangir: Police Tuesday conducted a raid on the branch office of the KMJ India, a private finance company at Sudapada here, on the charge of misappropriating funds to the tune of crores of rupees from locals.
In the latest complaint lodged against the company, complainant Sheshadeb Patra of Bandhanbahal village alleged Baladeb Danga, an agent of the firm, in 2008 had taken Rs 50,000 from his parents after luring them into getting seven times their principal amount after three years. The agent managed to convince his parents to deposit the sum in his absence.
Three years later, when his parents asked him to return the sum, the agent took a dilly-dallying approach. Sheshadeb approached him recently to demand the money, when the agent told him that he would get the sum after 15 years.
Finding no other option, Sheshadeb lodged a complaint with Sadar police.
On the basis of the complaint, police have been conducting raids on the company. The inspection will continue for some more days to bring the irregularities to light, said Sadar police station inspector-in-charge Anand Chandra Majhi.
He added that all the computers and documents of the firm are being inspected to ascertain whether it is a chit-fund company.
During inspection, it was learnt that while the company headquarters is based at Delhi, it opened its branch office in Bolangir in 2008 and pocketed crores of rupees from people of the district and outside after luring them into getting attractive returns under several schemes. PNN
