BHUBANESWAR: The financial offences wing (EOW) of the state crime department on Friday arrested a businesswoman for allegedly duping a number of individuals, largely medical doctors, by assuring them of doubling their investments within the share market.
The accused was recognized by the sleuths as Pallavi Mishra, director of Purple Qualves Monetary Providers Restricted. Mishra and her husband, Satyaranjan Hota, each residents of Dhenkanal district, allegedly collected Rs 7 crore from 43 individuals, together with 20 medical doctors.
To win the boldness of the traders, the accused initially paid them dividends. After just a few months, the corporate stopped paying curiosity to the depositors. The accused claimed that the traders misplaced their cash because the market crashed within the wake of the conflict in Ukraine.
Kamalakant Sahoo, one of many victims, who had invested Rs 1 crore, lodged a criticism with Dhenkanal City police station just a few months in the past. Following his criticism, the police arrested Hota.
Final month, the EOW took over the investigation from Dhenkanal police following a directive from the previous ADG (crime department) Sanjeeb Panda.