Bhubaneswar: Infocity police have arrested a 51-year-old alleged fraudster near the West Bengal-Nepal border in connection with a franchise and employment scam involving more than Rs 2.93 crore, officials said Sunday.
The accused, identified as Sachidananda Bhoi, a resident of Kataka, allegedly posed as the CEO and director of Go Speedy Go, a unit of HIFERK Technologies Pvt Ltd situated at Patia in Bhubaneswar, and duped several people into investing in franchisees by promising full business support, assured returns and high profits.
Police said Bhoi also falsely claimed to be the son of former MP Krupasindhu Bhoi to gain the confidence of investors. He allegedly recruited several employees by promising them regular salaries.
According to investigators, Bhoi operated the company for nearly two months before shutting down the office and disappearing after collecting money from investors.
Despite repeated attempts, the victims failed to contact him and subsequently lodged a complaint at the Infocity police station.
Based on the complaint, police registered Case No 507 and launched an investigation.
Following sustained efforts, Bhoi was arrested near the West Bengal-Nepal border with the assistance of Kharibari police.
He was subsequently brought to Bhubaneswar on a four-day transit remand granted by the ACJM Court in Siliguri.
During the investigation, police found that Bhoi had allegedly collected around Rs 2.30 crore from franchise holders and withheld nearly Rs 63 lakh in unpaid salaries and other employee dues.
He neither provided the promised business support nor paid employees before absconding, police said.
“He is facing multiple criminal cases at Saheed Nagar, Pahala and CID Crime Branch police stations, besides pending consumer complaints and a non-bailable warrant,” Zone VI ACP Manas Ranjan Pradhan said.
Police said further investigation is underway to trace other accused persons involved.
