Odisha Police Captures Fugitive from Ahmedabad in ₹1 Crore Fraud Case
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Synopsis
The Odisha Police's Economic Offences Wing arrested Manoranjan Ray, a fraudster who evaded capture for four years after breaching bail. Detained in Ahmedabad, he faces serious allegations of defrauding over 1,061 investors of ₹1 crore. A trial is ongoing in Cuttack, with a non-bailable warrant issued against him for non-compliance.
Key Takeaways
- Fraudster arrested after four years
- Non-bailable warrant issued
- Defrauded over ₹1 crore from investors
- Trial ongoing in Cuttack court
- Violation of bail conditions
Bhubaneswar, Feb 25 (NationPress) The Economic Offences Wing (EOW) of the Odisha Police has apprehended a fraudster, who had been evading authorities after breaching bail, from Ahmedabad in Gujarat after nearly four years, as stated by a senior EOW representative on Tuesday.
A non-bailable warrant was issued against the suspect by the designated court under the OPID Act in Cuttack in 2022.
The suspect, Manoranjan Ray, hailing from the Naugaon area in Jagatsinghpur district, was detained by law enforcement officers at the Ahmedabad railway station on February 22 in relation to a case logged with the EOW in 2016.
Ray was transported to Odisha on transit remand and presented before the court in Cuttack on Tuesday.
This case originated from allegations made by Laxmi Narayan Mohapatra of Talcher in Angul district.
According to the case details, the accused, Manoranjan Ray, while serving as the Managing Director of companies including 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., unlawfully solicited deposits from investors with promises of substantial returns.
He also deceitfully issued bonds, certificates, agreements, and money receipts to secure the trust of unsuspecting investors.
The accused allegedly defrauded 1,061 investors of ₹1,05,54,800 between 2010 and 2016.
During the investigation, the police apprehended Ray from New Delhi on October 20, 2019.
Subsequently, the police filed a charge sheet against Ray and his companies.
The trial is currently underway in the Court of the Presiding Officer in the designated court under the OPID Act in Cuttack.
Ray was granted bail by the Odisha High Court on June 4, 2021, with conditions including a deposit of ₹10 lakh at the time of release and ₹40 lakh within two months, followed by a remaining amount of ₹59,00,500 within six months post-release.
As per the court's directive, Ray only deposited ₹10 lakh at the time of his release on June 11, 2021.
However, the accused violated bail terms by failing to deposit any further amounts within the specified timeframe and went into hiding. Due to his non-compliance and absence, the court issued a non-bailable warrant against him on July 19, 2022, the EOW official added.
