FILE PHOTO

By Biodisha Bureau, Bhubaneswar, July 22, 2017: The chit fund firm Oscar Group is once again in the news with the depositors from Gujarat staging protest in front of Economic Offences Wing of the Crime Branch here on Saturday demanding refund of their money from the firm.

The protesters demanded stern action against the culprits including the directors of Oscar chit fund firm.

Interestingly, the firm duped the investors to the tune of Rs 230 crore in Odisha, Gujarat and Maharashtra had the backing of several Ollywood stars including Uttam Mohanty, Jina, Papu Pom Pom, Archita Sahoo, Kajal Mishra and Lipi, the investors alleged.

Earlier in August last year, Pravasi Odia Chitfund Jamakari Mahasangh, an association of duped chit fund investors in Gujarat and Maharashtra, had lodged an FIR at Pandesara police station in Surat against Prabhas Chandra Rout, owner of Bhubaneswar-based Oscar chit fund firm for duping gullible investors by promising hefty returns.

Incidentally, the members also mentioned names of four actor-turned politicians of Odisha and four other Ollywood actor and actresses in the FIR and urged the police to take action against the persons for persuading people to deposit money in the Ponzi firm

They alleged that Rout’s company has looted around Rs 1000 crore from the poor investors of Gujarat and Maharashtra. Rout, who is in jail, had promised them to double their money in three years. But later they got cheated by the company, they added.