Odisha: Man held for duping investors of nearly Rs 3 crore

Bhubaneswar, June 28 (IANS) The Infocity Police, Bhubaneswar, on Sunday arrested a 51-year-old man from West Bengal for allegedly duping several people of around Rs 3 crore by posing as the son of a former Lok Sabha MP and the CEO of a private company.

The accused fraudster, identified as Sachidananda Bhoi, is a resident of Kendupali, under Bheden police limits in Odisha’s Bargarh district. He was presently residing at Phulnakhara, in Kataka district.

Speaking to media persons, the Assistant Commissioner of Police (ACP) Zone-VI, Manas Ranjan Pradhan, stated that the accused impersonated the son of ex-MP Krupasindhu Bhoi and cheated many people.

Pradhan further revealed that the accused Bhoi had opened an office of Go Speedy Go (HIFERK Technologies Pvt Ltd), an auto-tech company engaged in on-demand, doorstep vehicle servicing, at Patia in Bhubaneswar.

Bhoi, identifying himself as the CEO and director of the Auto-tech company, had engaged several people at his office as employees. He had also set up offices at Khandagiri in Bhubaneswar and in Ganjam district.

According to police, Bhoi allegedly persuaded people to take franchises of his company by promising full business support, assured business and guaranteed profits. He also recruited employees by assuring them of regular salaries.

According to police, he mainly targeted his own employees, urging them to bring in their relatives and family members as franchisees. Believing his promises, several people invested between Rs 1.5 lakh and Rs 2 lakh each to obtain the company’s franchise.

The investigation revealed that the accused allegedly misappropriated around Rs 2.30 crore collected from franchise holders and about Rs 63 lakh meant for employees’ salaries. He neither provided the promised services to the franchise holders nor paid salaries to the employees.

He later closed his offices and went into hiding to evade arrest. ACP Pradhan said police have so far received complaints against Bhoi from around 200 to 250 people, with the alleged fraud amount exceeding Rs 3 crore.

Following the investigation, the police arrested the accused fraudster from his hideout near the India-Nepal border in the Kharibari Police Station area of Darjeeling District in West Bengal. He was later produced before a local court at Siliguri and brought to Odisha on transit remand.

Pradhan stated that the Commissionerate police would seek the court’s permission to bring the accused on remand for further investigation of the case.

During the investigation, police found that Bhoi was also involved in several other cases registered with the Crime Branch Police Station, the Special Crime Unit, Sahid Nagar, Pahal Police Station, and the District Consumer Disputes Redressal Commission, Jharsuguda.

–IANS

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