Crime Branch sniffs money in overseas accounts
Jun 10, 2013
Source : The Times of India


BHUBANESWAR: The Crime Branch (CB), probing the alleged multi-crore fraud by controversial Umamani Home Creations, suspect that the company's chairman-cum-managing director Narayan Chandra Nayak diverted crores of rupees to bank accounts of his relatives, staying in California. Nayak was arrested on June 5.

"We are trying to find out whether he deposited money in his relatives' accounts. His six bank accounts, frozen in Odisha, had only Rs 3 lakh while he had collected nearly Rs 50 crore from people, promising them land," said ADG (Crime Branch) B K Sharma. Nayak was taken on two-day remand for questioning on June 6.

While CB had earlier told mediapersons that Nayak was a former employee of Hi-Tech Group, currently under the investigating agency's glare for allegedly duping land investors of crores of rupees, the Hi-Tech authorities rubbished the claim. "Nayak was never our employee," said a senior functionary of Hi-Tech.

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