Bhubaneswar: The Economic Offences Wing (EOW) of the state Crime Branch has arrested a man for cheating 53 investors of Rs 1.2 crore on the pretext of supplying LED monitors for advertisement, official sources said Tuesday. According to EOW sources, Bimalananda Bhuyan was arrested May 18 last under Section 406, 420, 467, 468, 471 and 120B of the IPC and was produced before the Court of ACJM-II, Lucknow and brought to the City here on the strength of transit remand. The accused was produced before the designated court under OPID Act, Cuttack Tuesday.
A case has been registered on the allegation of Bikash Podar of Sambalpur against Bhuyan and his wife Rammi Bhuyan for cheating 53 investors of Rs 1.2 crore on the pretext of supplying LED monitors for advertisements through their LLP ‘Quick Click AD Media’ during 2017-18. “They were inducing the general public to invest with them to get lucrative profit from the advertisements. Both Bhuyan and his wife’ being the partners of ‘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 prominent places for advertisements given by different agencies,” EOW said, adding that the couple misappropriated the money.
The LLP had its activities mainly in Khurda, Koraput, Nayagarh, Mayurbhanj, Balasore, Rourkela, Sambalpur, and Ganjam, the EOW said. To evade police arrest, the couple was absconding for years. Bhuyan was hiding himself separately from his wife and working with a snack company in Lucknow from where he was arrested.
During the absconding period, Bhuyan went to Dubai where he stayed for 1.5 years and also formed a company ‘Empire Global Capital’. EOW said the accused Rammi was arrested in connection with the case a few days ago. “She was working with a real estate company at Mumbai by changing her Aaadhaar,” the agency said. The EOW has seized a lot of incriminating materials from the accused.