Bhubaneswar: The Special Crime Unit of Commissionerate Police has busted a racket of fraud committed by a company on the pretext of providing an automobile garage on wheels by arresting the Director of the firm and sezure of one luxurious Tata Safari car, bank passbook, and other documents related to the crime
According to the Commissionerate Police, a complainant from Balasore, along with twelve others, approached the Special Crime Unit, alleging fraudulent activities by a company operating under the name ‘Go Speed Go.’ The company, purportedly offering vehicles equipped with tools, machinery, drivers, and three mechanics, enticed these individuals into taking a franchise. It claimed affiliations with prominent programs like the Prime Minister’s Employment Generation Programme (PMEGP) and Startup Odisha.
Driven by the company’s enticing advertisements and the assurances of its Director, Sachidananda Bhoi, the complainant and others entered into a tripartite agreement involving the bank, themselves, and the company. Subsequently, substantial bank loans were disbursed to the company’s account. However, upon receipt of the funds, the company failed to deliver the promised vehicles and remained unresponsive to their pleas for resolution.
TEAM & OPERATION:
This case was investigated by a team comprising Sanjeev Satpathy, ADCP, Shri B.R. Senapati, ACP, and Inspector Santosini Behera. The investigation unveiled a series of deceptive practices conducted by Sachidananda Bhoi, the director of Hiferk Technology Pvt. Ltd., operating under the trade name ‘Go Speed Go,’ with an office located in Esplanade Mall.
This company, registered with the Registrar of Companies (ROC) in Cuttack in 2017, initially lured unsuspecting victims through a variety of employees and elaborate marketing campaigns. They organized conferences at prestigious venues, including a five-star hotel, to promote their venture.
Sachidananda Bhoi, the company’s director, propagated an enticing narrative, citing affiliations with prominent programs like PMEGP, Startup Odisha, and Standup Odisha.
During these conferences, the accused persuaded potential investors to commit Rs. 10 Lakhs towards the purchase of customized vehicles equipped with various tools, suitable for end-to-end automobile repair services. He assured them that the company would provide drivers, along with three mechanics, facilitating the operation of ten such mobile service units. Customers would access these services through an online application, ensuring doorstep convenience.
The victims were further convinced that franchise holders would earn 30% of the total monthly income, approximately Rs. 1.3 Lakhs.
Under the guise of these promises, the complainants and other investors were directed to proceed with loan applications to the District Industries Centre (DIC). Subsequently, loan amounts were disbursed to the company upon DIC approval. However, the company failed to honor its commitment and did not provide the promised vehicles.
When pressured by the investors, Sachidananda Bhoi resorted to fraudulent tactics, obtaining temporary registration certificates, Tax invoices, and insurance certificates from a Delhi-based motor company. These documents were issued in the names of the victims but were later cancelled due to insufficient funds following the dishonour of a check issued by Sachidananda Bhoi.
Sachidananda Bhoi was fully aware that temporary registration certificates were valid for 30 days and would automatically be revoked in the absence of payment. Nevertheless, he deceitfully handed over the documents to the victims, falsely conveying that vehicle deliveries were imminent.
Further investigation revealed that, from 2021 to the present, the company employed similar tactics to deceive a total of 30 victims. In some cases, although vehicles were provided, staff and drivers were not, rendering the promised services incomplete. Based on the comprehensive investigation, substantial evidence has been collected against Sachidananda Bhoi, director of Hiferk Technology Pvt. Ltd., implicating him in defrauding victims of an excess of Rs. 2.5 Crores.
The accused, who maintained a lavish lifestyle, had one luxurious Tata Safari vehicle seized, a purchase made using ill-gotten gains. Sachidananda Bhoi holds a B.Tech degree and an MBA, while the involvement of his wife, Anita Porwal, who serves as one of the company’s directors, remains under investigation.
The accused has been apprehended and is scheduled to appear before the magistrate on 16.09.23. The Crime Unit intends to seek police remand for custodial interrogation, further evidence collection, and tracing the financial trail, the Commissionerate Police added.
