In a big development, controversial Seashore Group MD Prashant Kumar Dash, was arrested in Mumbai by the Crime Branch and brought back to Bhubaneswar this morning. Prashant had been on a run for the past three months. He reportedly stayed in Goa, Dadra & Nagar Haveli and Mumbai to evade arrest.
Prashant Dash’s company Seashore Group is accused of embezzling nearly Rs 450 crore deposited by the common people across Odisha through money circulation business. The multi-crore fraud involving the Seashore Group has shocked the entire state. Many agents committed suicide, fearing backlash from the depositors.
In July 2012, the Crime Branch had registered cheating cases against Prashant Dash, Seashore Group and seven other directors of the company. The Crime Branch failed to arrest Dash, as he had obtained an anticipatory bail from the Orissa High Court on October 17, 2012.