Bhubaneswar: The Economic Offences Wing (EOW) Friday arrested a man on charges of alleged fraud to the tune of Rs 3 crore.
The accused, identified as Bishnu Prasad Sahu, is said to be the proprietor of M/s Sahil Enterprises.
Sahu was arrested in connection with EOW PS case (No.-04, dt.-18.02.2021 U/s 406/420/467/468/471/120-B of IPC r/w Section 6 of Odisha Protection of Interests of Depositors (OPID) Act, 2011, an EOW official said.
The presiding officer of a designated court under OPID Act in Cuttack remanded him in judicial custody after he was forwarded to the court Saturday.
According to sources, a case was registered based on an FIR lodged by Shubhranshu Shekhar Raut from whom Bishnu had collected around Rs 65 lakh.
The accused had allegedly asked 21 others to invest in his ongoing potato business and seafood trading (prawn business) and had collected about Rs 2.5 crore from them.
Bishnu misappropriated the entire amount for his personal use.
An investigation revealed that during 2017, the complainant came in contact with accused Bishnu, who is a resident of Keonjhar. The accused is the proprietor of a fake firm Sahil Enterprises at Patia in Bhubaneswar. He and his associates had asked the complainant to invest by promising the latter to return the principal invested amount along with a very high dividend, the EOW official said.
Further investigation in this regard is underway.
PNN
