Bhubaneswar: Saheed Nagar police on Sunday arrested a man for allegedly duping more than 15 people of around Rs 29 lakh by promising them high returns through chit-fund schemes, land deals and other investment opportunities.
The accused, identified as Niranjan Acharya of Saheed Nagar, allegedly operated the fraud along with his wife. The couple reportedly collected money from several people through a private company after luring them with promises of quick and substantial returns.
According to reports, Acharya allegedly posed as an officer of the Odisha Power Transmission Corporation Limited (OPTCL) to gain the confidence of prospective victims. He reportedly established contacts in Saheed Nagar and nearby areas and allegedly used these connections to lure people into various investment schemes.
The victims allegedly handed over money to the accused after being promised attractive returns. However, the couple later failed to fulfil their commitments, following which some of the victims approached the police.
Acting on the complaints, Saheed Nagar police launched an investigation and arrested Acharya. His wife, who is also allegedly involved in the fraud, has reportedly been absconding. Police have launched efforts to trace her.
Police seized a mobile phone and several documents and papers from Acharya’s possession during the investigation.
Further investigation is underway to ascertain the total amount involved and identify other possible victims.
