Man held for Rs 3 crore fraud

BHUBANESWAR: Economic Offences Wing of Crime Branch on Wednesday arrested Gagan Bihari Mishra, director of Tulsi Spices for 3 crore fraud. Gagan’s son Durga Prasanna Mishra, who is the managing director of Shree Baladevjew Infrastructure Private Limited, had collected 5 crore from at least 200 persons on the pretext of providing them flats under Tulsi Garden project near Manguli.

But, the flats were not constructed and Durga diverted 2.92 crore of the buyers money to Tulsi Spices and Foods Private Limited of which Gagan is one of the directors.

Durga also diverted 9.77 lakh of real estate investors to Tulsi Flour Mills, which is a proprietorship firm of his father. One of the investors Priyabrata Parida had lodged a complaint with EOW alleging discrepancy following which the agency registered a case in 2018. Durga was apprehended in February last year in connection with the case.

“Gagan was arrested and was produced before a court in Cuttack on Wednesday. Further investigation is on,” a EOW officer said.