Bengal-based ponzi firm MD arrested

Abhishek Law Kolkata | Updated on January 24, 2018 Published on February 07, 2015

Biswapriya Giri, the managing director of URO Group – a West Bengal-based deposit-taking company - has been arrested on charges of cheating and fraud, sources said.

Giri, arrested on Friday night, by the Bidhannagar police, is suspected to have collected close to Rs 1500 crore through various ponzi and deposit collection schemes.

The police is said to have raided several offices of the company across North 24 Parganas and Nadia.

The URO Group’s name also featured in the list of 73 ponzi firms of West Bengal that the Ministry of Corporate Affairs had published in 2013.

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Published on February 07, 2015
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