Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Police has arrested a fraudster, who had absconded after jumping bail, from Ahmedabad in Gujarat after around four years, said a senior EOW official Tuesday.
A non-bailable warrant has also been issued against the accused by the designated court under the OPID Act at Cuttack in 2022.
The accused, Manoranjan Ray, a resident of Naugaon area in Jagatsinghpur district, was arrested by the police officers from Ahmedabad railway station February 22 in connection with a case registered with the EOW in 2016.
Ray, who was brought Odisha on transit remand was produced before the court at Cuttack Tuesday.
The above case was registered over the allegations of one Laxmi Narayan Mohapatra of Talcher in Angul district.
As per the case details, the accused/warrantee Manoranjan Ray being the Managing Director of the companies namely M/s Inter Occean Videsh Ltd., M/s Interoccean Retail (India) Ltd., Realcon Ltd., M/s Alpine Fincrop Ltd. and M/s Interoccean Realcon Ltd. illegally collected deposits from the investors promising high returns.
He also fraudulently issued bonds, certificates, agreements, money receipts, etc, to win the trust of the gullible investors.
The accused had allegedly duped 1,061 investors of Rs 1,05,54,800 from 2010 to 2016.
The police during the course of investigation arrested the accused Ray from New Delhi on October 20, 2019.
The police officers also later submitted the charge sheet against the fraudster and his companies.
The trial in the case is currently going on in the Court of Presiding Officer in a designated court under OPID Act in Cuttack.
The accused Ray was granted bail by the Odisha High Court on June 4, 2021, with the condition that he would deposit Rs 10 lakh at the time of his release and Rs 40 lakh within a period of two months and thereafter the rest amount of Rs 59,00,500 within a period of six months subsequent to his release on bail.
As per the order, Ray had deposited Rs 10 lakh only at the time of his release June 11, 2021.
“Subsequently, the accused/warrantee violated the bail conditions by not depositing any further amount within the time limit and absconded. Due to his non-compliance and non-appearance, the court was pleased to issue non-bailable warrant against him on July 19, 2022,” the EOW official added.