Rajasthan
Rajasthan based businessman caught in Uttar Pradesh for chit fund scam in Odisha | Jaipur News
BHUBANESWAR: A Rajasthan-based businessman, who had been on the run since 2013 for his alleged involvement in a chit fund scam in Odisha, was arrested from Uttar Pradesh by the economic offences wing (EOW) of the state crime branch on Wednesday.
Dilip Kumar Jain was being brought on transit remand to Odisha on Thursday following an order by a court in Uttar Pradesh at the time of the filing of this report.
Jain (57), who hails from Bikaner, was one of the three directors of Inter Ocean Videsh Limited, which had its headquarters in Bhubaneswar. Between 2010 and 2013, the chit fund company along with its sister concerns — Alpine Fin Corporation Limited, Inter Ocean Impex Private Limited and Inter Ocean Retail India Limited — allegedly collected deposits to the tune of nearly Rs 2 crore from hundreds of investors in Odisha by promising them high returns.
The EOW sleuths said the company, which had opened its branches in different districts here, initially paid the assured interest money to the investors to gain their confidence. In January 2013, the company suddenly shut its head office in Bhubaneswar and branch units in the districts. Its directors, Manoranjan Ray, Sunita Samal and Dilip Kumar Jain remained incommunicado, an EOW officer said.
Hoping to get their refunds, many duped depositors waited for three years before approaching the EOW for justice in 2016. Based on the complaint of Laxmi Narayan Mohapatra, one of the duped investors, the EOW registered a cheating case against the company and its directors on April 22, 2016.
The EOW arrested Sunita on May 24, 2018 and Manoranjan on October 20, 2019. Jain remained at large as he kept changing his location to evade arrest. “Tipped off about the presence of Jain in Delhi, the EOW team went to the national capital to arrest him on July 21. But he fled to Bareilly from there. We took the assistance of the Bareilly police and arrested him on Wednesday. He was produced in the court of the chief judicial magistrate at Bareilly and is being brought on transit remand to Odisha,” the EOW officer said.
Dilip Kumar Jain was being brought on transit remand to Odisha on Thursday following an order by a court in Uttar Pradesh at the time of the filing of this report.
Jain (57), who hails from Bikaner, was one of the three directors of Inter Ocean Videsh Limited, which had its headquarters in Bhubaneswar. Between 2010 and 2013, the chit fund company along with its sister concerns — Alpine Fin Corporation Limited, Inter Ocean Impex Private Limited and Inter Ocean Retail India Limited — allegedly collected deposits to the tune of nearly Rs 2 crore from hundreds of investors in Odisha by promising them high returns.
The EOW sleuths said the company, which had opened its branches in different districts here, initially paid the assured interest money to the investors to gain their confidence. In January 2013, the company suddenly shut its head office in Bhubaneswar and branch units in the districts. Its directors, Manoranjan Ray, Sunita Samal and Dilip Kumar Jain remained incommunicado, an EOW officer said.
Hoping to get their refunds, many duped depositors waited for three years before approaching the EOW for justice in 2016. Based on the complaint of Laxmi Narayan Mohapatra, one of the duped investors, the EOW registered a cheating case against the company and its directors on April 22, 2016.
The EOW arrested Sunita on May 24, 2018 and Manoranjan on October 20, 2019. Jain remained at large as he kept changing his location to evade arrest. “Tipped off about the presence of Jain in Delhi, the EOW team went to the national capital to arrest him on July 21. But he fled to Bareilly from there. We took the assistance of the Bareilly police and arrested him on Wednesday. He was produced in the court of the chief judicial magistrate at Bareilly and is being brought on transit remand to Odisha,” the EOW officer said.
