Arrested CMD of Seashore brought to Odisha

CMD of a ponzi company, which had duped thousands of investors in Odisha, was today brought here on transit remand from Mumbai and interrogated by the state crime branch sleuths.
Prasant Das, the CMD of Seashore company, was on the run for about two months after cases were lodged against him of duping innocent investors.
Das, accused of duping innocent investors of about Rs 500 crore, was nabbed by Odisha Police from Fort area of Mumbai yesterday and was brought on a six-day transit remand after Additional Chief Metropolitan Magistrate, Mumbai, rejected his bail application.
He was arrested on charges of duping at least 3,000 gullible investors of over Rs 50 crore in Koraput district, police said.

Das would be taken to Semiliguda in Koraput district tomorrow and be produced in the local court, a CB official said.
The Economic Offences Wing (EOW) has already registered a case against Das and six of his directors in July 18 last year for duping investors across the state to a tune of Rs 500 crore.
Meanwhile, the EOW seized fifteen movable and immovable properties including factories, flats, offices and farm house worth about Rs 200 crore owned by Seashore group.