Bhubaneswar, Nov 17: The Economic Offences Wing (EOW) of Odisha Crime Branch team has conducted raid at the residence of arrested managing director of Tresty Securities Ltd on Tuesday at Aparttibindha village in Bhadrak.
The officials raid the residence and seized some important documents, as per reports, raid was carried out by a team of three Crime Branch officials on Tuesday.
Managing director of Tresty Securities Ltd, Dayanidhi Mohapatra was arrested on Nov 13 from Nasik in Maharashtra by the team of Odisha Crime Branch in connection with cheating and duping investors to the tune of Rs. 10 crore.
Notably, Mohapatra was arrested under Prize Chits and Money Circulation Schemes (Banning), Act, 1978 and OPID Act, 2011. He was deposed before the Chief Judicial Magistrate in Nasik for transit remand.
A case was registered against Dayanidhi Mohapatra as per a complaint filed by Prasanta Kumar Majhi of Basudevpur of Bhadrak district. It was reported in the complaint that Dayanidhi Mahapatra and other directors of the company have collected crores of rupees from investors of Odisha by assuring payment of high rate of interest rate.
They closed its offices in Balasore, Soro, Bhadrak and Betanati without paying the interest as well as principal amount. A case was also filed by market regulator – Securities and Exchange Board of India (SEBI) against the company.