Bhubaneswar: The Balasore police on Sunday arrested a 34-year-old man for allegedly defrauding an investor by promising high monthly returns on an investment and subsequently failing to deliver.
The arrested person has been identified as Pramod Kumar Mahinti (34) was apprehended following a complaint lodged at the Cyber Police Station in Bhubaneswar on May 7.
According to the complaint, Mahinti had assured the victim of a 7 percent monthly return on an investment of Rs 12 lakh. However, he neither paid the promised returns nor refunded the invested amount.
It has been alleged that he defrauded several others using a similar modus operandi.
A detailed investigation is currently underway.
