Odisha EOW Arrests Proprietor of Pvt Company for Cheating Investors Rs 2 Cr

Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police arrested an absconding proprietor of private company for allegedly cheating the investors Rs 2 crore.

The accused has been identified as Bimalananda Bhuyan, the absconding proprietor of Quick Click Ad Media.

Bhuyan, who is Orkel village in Malkangiri district, was arrested from the Indiranagar police station area in Lucknow, Uttar Pradesh.

The arrested accused was produced before the Court of ACJM-II, Lucknow, and brought to Bhubaneswar on the strength of transit remand. He is going to be produced before the P.O, Designated Court under OPID Act, Cuttack today.

The case has been registered on the allegation of one Bikash Podar of Sambalpur against Bimalananda Bhuyan and his wife Rammi Bhuyan for cheating 53 investors of Rs.1.2 Cr. on the pretext of supplying LED monitors for advertisements through their LLP “Quick Click AD Media”. They were inducing the general public to invest with them in order to get lucrative profit from the advertisements.

Bimalananda Bhuyan and his wife Rammi Bhuyan being the partners of LLP firm “Quick Click Ad Media”, during the period 2017-18, induced the general public to invest through two of their schemes to purchase LED monitors to be placed at the prominent places for the purpose of advertisements given by different agencies. The members of public were attracted by both the partners by promising them potential shares from the profits obtained from running the advertisements of different sale agencies in the LED monitors. In this manner, they collected the public deposits of about Rs. 2 crores from more than 100 investors, and without purchasing any LED monitors, they absconded with the amount, and misappropriated the same.

‘Quick Click Ad Media’ is a Limited Liability Partnership firm registered with ROC, Chhattisgarh in the year 2017.The LLP was having its Head Office at Shyamnagar, Raipur, Chhattisgarh and the branch offices at Jagdalpur, Chhattisgarh and Jaydev Vihar, Bhubaneswar.