Odisha: Fraudster held in Rs 50 cr Ponzi fraud case ...Middle East

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Bhubaneswar: The Economic Offence Wing (EOW) of Odisha Crime Branch on Tuesday arrested a person for duping several depositors in Odisha of over Rs 50 crore on the pretext of various Ponzi schemes, said an official here. The accused was identified as Mohan Kumar Parida of Bhadrak district. Parida, an MBA graduate, is the Managing Director of M/s Way to Add India (P) Ltd. His wife is also the director of the sham private firm set up in 2020. Parida was arrested on the basis of a complaint lodged by one Chitta Ranjan Palo of the Kalinga Nagar area in Bhubaneswar City. Palo alleged that Parida in connivance with other accused persons induced him to invest money to the tune of Rs 44.60 lakhs in

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