Vista CMD taken on three-day EOW remand

Bizodisha Bureau, Cuttack, May 18, 2015 :

A designated court of Economic Offences Wing (EOW) of Odisha Crime Branch (CB) here on Monday allowed the investigating agency to take Deb Kumar Panda, the managing director of chit fund company Vista Management Services Limited on three day remand for further interrogation into the case.

Panda was arrested by the EOW officials on Sunday for duping investors in Odisha of at least Rs 50 crore by floating various schemes promising heavy returns on the deposited money.

Panda was arrested from the Bhubaneswar railway station while he was leaving for Vizag on Bhubaneswar-Tirupati Express to catch a flight to Singapore.

The EOW had also seized passport, visa, air ticket, some foreign currency and hotel booking receipt from the possession of the accused at the time of his arrest.

Panda had launched the Ponzi firm in 2008-2009 and opened its corporate office at Cuttack Road here.