Cheats of Chit Fund on Prowl Again: EOW Arrests Balasore Man for Duping Depositors of Crores

Bhubaneswar: A man named Nilesh Kar from Balasore was arrested by the Economic Offences Wing (EOW) of the Odisha Crime Branch on charges of duping around one crore rupees from several investors in the State. The accused hails from Angaragadia of Balasore district. It is alleged that while selling phenyl in a car, he was also luring gullible investors of Balasore district and outside to invest money in a dubious chit fund company.

Fraudsters had opened a website named Crypto Currency Mining. Through Cloudpot app and the website, they duped crores of rupees from the people.

Nilesh was claiming to be the district head of the chit fund company. The chit fund company was promising to that the investors can get Rs 49 per week for investing Rs 5000 in the company. Through it, Nilesh was able to collect crores of rupees from the gullible people.

A person identified as Nimai Charan Jena filed a complaint against Nilesh with the police. Nimai has invested Rs 2.50 lakh in the dubious chit fund company but never got any weekly returns. He was promised that he would get 50 lakh rupees in return. Basing on Nimai’s allegation, the EOW arrested Nilesh. He has been sent to judicial custody.

As per EOW sources, Nilesh has a deposit of Rs 50 lakh in his account.