Bhubaneswar: Three persons have been arrested for allegedly duping an investor of Rs 10 lakh here by promising high returns on his deposits, police said Sunday.
Two accused were arrested from Jeypore town in Koraput district, while another was nabbed from Khurda, they said.
The three had set up a fake company, and to gain the trust of investors, it initially provided a return of 7 per cent on the investment to the complainant, Bhubaneswar DCP Jagmohan Meena said.
The complainant subsequently invested a total of Rs 10 lakh and got duped in the process, he said.
“We have seized all bank accounts of the accused persons and recovered Rs 5.30 lakh. The victim has also received Rs 3 lakh by lodging a case in court,” Meena added.
PTI
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