The Economic Offences Wing (EOW) of Odisha’s Crime Branch on Friday arrested a senior executive of a chit fund company in Berhampur for allegedly duping thousands of investors of Rs 5 crore. The company had swindled about of Rs 500 crore from different states. The accused was identified as Nikhilananda Pashupalak.
Success Online Service System (SOSS) Private Ltd, an Uttar Pradesh-based company, had its branch in Lochapada of Berhmar City. Pashupalak was the regional head of the Berhampur branch. He was collecting illegal deposits by floating different attractive schemes.
The office bearers of SOSS Pvt. Ltd. displayed the goodwill of the company to the investors in the name of providing Insurance Service, distribution of flats etc., and collected public fund more of than Rs 5 crore from different districts of state.
About 1500 to 200 investors of Bhadrak, Ganjam, Baleswar, Mayurbhanj, Kendrapada, Nayagada. Jagatsinghpur districts fell prey to the crime. The EOW arrested Pashupalak on the charges of duping people from Odisha, Jharkhand & Delhi of over Rs 500 crore.
Pasupalak allegedly spent the money on making Bhojpuri films and also enacted in the movies. He had been absconding since January 2012 and was arrested from Berhampur on the basis a written complaint filed by Parsuram Behera of Basudebpur, Bhadrak district.
“The company was collecting illegal deposits by floating different schemes under the promise of giving health care commodities, food products and tour packages. The company was collecting money through different attractive schemes promising high percent of interest. It was also collecting money under three different schemes with monthly payment of Rs 6,000, Rs 15,000 and Rs 25,000, promising 5 to 10 per cent interest. The company has collected more than Rs 500 crore such illegal deposits from Delhi, Jharkhand, Odisha, Himachal Pradesh and other places,” EOW SP Dilip Tripathy said.
The EOW has found that a substantial amount of the collected public deposits has been mobilised by the accused persons for making Bhojpuri films. a sister concern of SOSS and the present accused had also acted in the films (Bhojpuri).
During house search, many incriminating documents like pan card, cheque books, investor lists, leaflets and brochures have been seized. After appearing in the OPID court, the accused was sent to the Berhampur Circle Jail.
Bijay Kumar Pradhan, Special Public Prosecutor, OPID Court, said, “As per the writ petition of Parshuram Behera, the EOW has arrested Nikhilananda Pashupalak, official of Success Online Service System (SOSS) Private Ltd. The company had opened a branch in Lochapada of Berhampur. Pashupalak was the head of branch office. The company duped near about Rs 500 crore from different states with different scheme. He was sent to Berhampur Circle jail. Next hearing is on April 12.”
(Inputs from Dipak Samal and Kailash Behera)
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