5 months ago
1
The Economic Offences (EOM) helping of Odisha constabulary arrested 1 Amit Mandal accused of defrauding gullible investors and collected deposits to the tune of ₹120 crore from Odisha and West Bengal.
The EOW investigators arrested Mandal from Bankura successful West Bengal and were bringing to Odisha connected a transit remand aft producing him earlier a section court.
“The accused Mandal has collected much than ₹120 crore from astir 500 depositors from Odisha and 100 depositors from West Bengal during the play from 2020-2024 and present has to instrumentality the invested magnitude of much than ₹40 crore,” said EOW successful a connection connected Friday (January 2, 2026).
The EOW acted connected a lawsuit registered connected the written ailment by Sushant Kumar Das of Khordha district. It was alleged that the accused Amit Mandal and his associates induced him to put with him for Share Trading for precocious returns successful the scope from 3.5% to 7% per month.
“In bid to triumph the confidence, the accused executed statement with him isolated from issuing Post Dated Cheque. Being induced, the Mr. Das deposited ₹8.5 Lakhs during the play 2022 – 2024. The deposit was taken done the idiosyncratic accounts of the accused Mandal,” it informed.
Mandal was operating done “Kalpana Financial Services”. The accused paid investors backmost done immoderate returns. However, it helium stopped subsequently and absconded.
According to EOW, successful bid to summation spot among gullible investors, the accused successful connivance with his agents successful Odisha was arranging meetings successful antithetic hotels astatine Angul and Bhubaneswar.
“The accused was collecting deposits successful his idiosyncratic accounts maintained with ICICI and HDFC slope for Share Trading successful the sanction of Kalpana Financial Services which is purely non-existent. He has besides collected immoderate magnitude done the relationship of Kalpamit Consultancy Private Limited and besides successful the idiosyncratic relationship of immoderate of his associates. On scrutiny of his ICICI account, it was recovered that determination is transaction of Rs. 122 crore approximately,” said EOW of Odisha police. (EOM)
