Economic Offences Wing arrests lady director of Ponzi firm in Odisha

Bhubaneswar | Tuesday | 21st November, 2017

Summary:

The EOW took up the Baliguda case in June 2012 and Barpali case in July 2013. On January 18, 2014 the state government ordered attachment of the movable and immovable assets of the company.The firm was in the process of constructing a hotel in Puri, EOW sources said. Sources said the company operates bus services in Odisha and runs a public school at Bhubaneswar. When asked about the delay in arresting Pranati, EOW said her complicity was ascertained only a few days ago. The company had in 2010-11 promised to generate employment for nearly 10,000 people within a span of five years..