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URO Group MD arrested

Our Bureau Kolkata | Updated on January 24, 2018 Published on February 08, 2015


Biswapriya Giri, the Managing Director of URO Group — another West Bengal-based deposit-taking company — has been arrested on charges of cheating and fraud, sources said. He is accused of not repaying depositors’ funds. Giri, arrested on Friday night, by the Bidhan Nagar police, is suspected to have collected close to ₹1,500 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.

Published on February 08, 2015
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