Fraud through the online app! The main accused was arraigned in a special chit fund court by the EOW
BALESWAR: The Economic Offenses Branch (EOW) has summoned Prince Kumar, head of Digital Development Technology Limited, on charges of embezzling money through an online app in the Balasore Special Chit Fund Court. The prince has been remanded in custody pending bail. It is learned that the EOW will remand him in custody for further investigation.
Prince Kumar of Bihar’s Muzaffarpur district, who opened an ID through a mobile application and deposited Rs 15,000 through an online application, lured depositors to return Rs 2,600 a month through the application for two years. At first, some depositors were able to return the money, but later, more than a hundred depositors were able to extort money. It is estimated that more than Rs 1.5 crore has been embezzled from Balasore and Mayurbhanj, while Rs 5 crore to Rs 7 crore has been embezzled from Odisha.
Prashant Kumar, a depositor, filed a case in the Mahalik High Court for non-refund. On that basis, EOW DSBP Devendra Narayan Das investigated and submitted a report. Thus a case (No. 5.22) was filed in the EOW. Prince Kumar was arrested from Vrindavan on May 14 and remanded in transit and appeared before the Baleshwar Special Chit Fund Court on Monday.