BHUBANESWAR: Despite recent police crackdown on non-banking financial companies, Seashore CMD Prasant Kumar Dash attempted to revive his money circulation business in Angul and Dhenkanal districts, Crime Branch (CB) sources said.
"He wanted to start his business afresh and distributed gold ornaments among the investors to win back their trust," ADG (Crime Branch) B K Sharma said. Sources said Dash had purchased huge quantity of gold from Vishakhapatnam recently. "A few days ago, he held a meeting with some agents in Mumbai and asked them to start collecting deposits from people in Angul and Dhenkanal districts," Sharma said.
Dash allegedly embezzled over Rs 1,500 crore public deposits and diverted most of the money into gold trading. "We suspect he has a huge stock of bullions. We will try to ascertain the source of gold trading after taking him into custody," Sharma said. A trail court in Mumbai on Thursday granted the CB six-day transit remand of Dash, following his arrest the previous day.
Apprehending that Dash may get a bail, the investigating agency is planning to register more cheating cases against him. Though Dash had earlier got an anticipatory bail in connection with July 18 cheating case, the CB arrested him after registering a fresh one on June 6. In the latest case, he was accused of cheating hundreds of people of Rs 50 crore at Semiliguda in Koraput district.
CB is likely to seal a maize processing unit of Seashore in Nabarangpur district soon. "So far we have sealed his assets worth over Rs 100 crore," Sharma said.