By Bizodisha Bureau, Bhubaneswar, April 28, 2016 : The Economic Offence Wing (EOW) of the Crime Branch on Thursday sought clearance from Odisha government to confiscate assets of Ponzi firm Vista Management Services Ltd.

In a letter to the Finance department, the EOW has sought the Finance department’s approval to confiscate 14 acres of land, a bank deposit of Rs 3.86 lakh and six vehicles belonging to the Ponzi firm, sources said.

Three directors including chairman-cum-managing director (CMD) of the Ponzi firm Deb Kumar Panda are now in jail.

The EOW on May 17 last year had arrested Panda from the railway station here while he was leaving for Vizag on the Bhubaneswar-Tirupati Express to catch a flight to Singapore.

The Ponzi firm had started functioning in 2008-2009 by opening its corporate office here.

Panda has been accused of collecting around Rs 50 crore from public by floating various schemes promising heavy returns and had expanded his business in the western Odisha, particularly in Kalahandi and Bolangir districts.