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Man held for cheating retired Government employees

According to EOW officers, Padhi was in overall charge of the society and had managed to convince Panda to deposit Rs 20 lakh in the fixed deposit scheme of the society in 2003.

Published: 05th August 2018 05:50 AM  |   Last Updated: 05th August 2018 05:50 AM   |  A+A A-

By Express News Service

BHUBANESWAR:The Economic Offences Wing (EOW) of Crime Branch arrested president of M/s Adarsh Cooperative Society Limited, Bijaya Kumar Padhi (68) of Rourkela, in connection with a fraud case registered against him in May, 2018.“Padhi was nabbed from Rourkela on Friday and produced before Odisha Protection of Interests of Depositors court in Sambalpur,” an EOW officer said.

A retired Steel Authority of India (SAIL) employee, Byomkesh Panda of Sambalpur, approached Orissa High Court alleging that Padhi and other members of the society misappropriated the money of several retired persons. On the direction of Orissa High Court, the EOW registered a case under Sections 420 and 406 of IPC along with Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act. According to EOW officers, Padhi was in overall charge of the society and had managed to convince Panda to deposit Rs 20 lakh in the fixed deposit scheme of the society in 2003. The accused also assured to provide 15 per cent interest annually.

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