Bhubaneswar: The Economic Offences Wing, Bhubaneswar has arrested one Nikhilananda Pashupalakon from Berhampur in connection with a case of fraud. The accused was managing the operations of a chit fund company ‘Success Online Service System (SOSS) Private Ltd’, at its regional office in Berhampur.
SOSS had its head office at Gaziabad, and several regional offices across India, with one at Lochapada in Berhampur. The company was headed by its Managing Director Raman Kumar Singh and Secretary Rakesh Kumar.
They collected money from public for providing Insurance Service, share marketing, dividends and estates/ distribution of flats etc. As per estimates the company collected more than Rs 500 crore from different parts of country and subsequently disappeared in January, 2012.
A huge amount of public money was misappropriated and Pasupalak was absconding since then. An FIR was registered on the basis of a complaint filed by a depositor Parsuram Behera.
“A substantial amount from the deposits out of the public deposits have been mobilised by the accused persons for making Bhojpuri films under “Cine Vision”, a sister concern of SOSS. Pasupalak had also acted in the films,” an EOW official said.
Pasupalak and the company have been booked under Sections 420, 406, and 120-B of the IPC, and Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments Act, 2011). Incriminating items were seized from his house, the EOW stated.
