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Orissa HC refuses anticipatory bail to Journalist alleged of cheating depositors through ponzi schemes

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Fraudulent Investing Scam - Orissa HC - anticipatory bail - cheating depositors - ponzi schemes - Taxscan

The Orissa High Court refused to grant anticipatory bail to journalists accused of cheating depositors through Ponzi schemes.

The petitioner, Suman Chattopadhyay is a journalist who earlier happened to be the Director and shareholder of Disha Productions & Multimedia Pvt. Ltd. (DPMPL). As reported, he ceased to be the share-holder and Director of DPMPL in January 2013, and presently he is continuing as the Chief Editor of ‘Ae Samay’, a Bengali newspaper. He was arrested in another case registered in Odisha against another Ponzi Company, namely “I-Core E-Services Ltd.”, and in that connection during a search conducted in his residential premises, some documents were found out to show his relationship with and diversion of funds from M/s. Saradha Group of Industries to DPMPL, of which he earlier happened to be the Director and share-holder, and subsequent misappropriation of an amount of Rs.1.04…

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