Bhubaneswar: The economic offence wing (EOW) of Crime Branch on Tuesday moved the finance department proposing attachment of the assets of Katloon Management and Financial Serviced Private Limited, a money circulation company that allegedly duped investors of around Rs 1 crore.
"So far, we managed to detect only 37 acre land and a car, owned by the company. Efforts are on to trace more property," said an EOW officer.
Most of the investors duped by the company are in Ganjam district. EOW took up the case from Buguda police station on July 22, 2015.
Buguda police arrested the company's director, Aswini Kumar Nayak, on July 4, 2015.
The company, which started its operations in Ganjam in November 2010, allegedly floated a credit cooperative society and lured gullible investors by announcing hefty returns on their deposits.
The firm had opened its offices at Buguda, Aska and other places in the district.
EOW officers said five other directors of the company are on the run.
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