Bhubaneswar: A businessman based in Rajasthan, who has run since 2013 because of his alleged involvement in the fraud of Chit funds in Odisha, was arrested from Uttar Pradesh by the wing of economic violations (EOW) from the branch of the State Crime on Wednesday.
Dilip Kumar Jain was taken over transit delivery to Odisha on Thursday followed orders by the court at Uttar Pradesh when submitting this report.
Jain (57), who came from Bikaner, was one of the three Inter Ocean Director Videsh Limited, who had headquarters in Bhubaneswar.
Between 2010 and 2013, Chit Fund Company together with his brother’s concern – Alpine Fin Corporation Limited, Inter Ocean Impex Private Limited and Inter Ocean Retail India Limited – Allegedly collecting deposits in almost Rs 2 Crore from hundreds of investors in Odisha by promising their returns tall.
Sleuths EOW said the company, which has opened its branches in various districts here, initially paying guaranteed interest in investors to gain their confidence.
In January 2013, the company suddenly closed its head office in Bhubaneswar and branch units in the district.
Director, ManoRanjan Ray, Sunita Samal and Dilip Kumar Jain remained incommunicado, said an EOW officer.
Hoping to get a refund of their money, many depositors were cheated waiting for three years before approaching EOW for justice in 2016.
Based on the complaints of Laxmi Narayan Mohapatra, one of the investors who was deceived, EOW registered a case of cheating on the company and his director April 22, 2016.
Capture Sunita on May 24, 2018 and ManoRanjan on October 20, 2019.
Jain remains in general when he continues to change its location.