Bhubaneswar: The Economic Offences Wing (EOW) of the Crime Branch has arrested Bishnu Prasad Sahu, owner of Sahil Enterprises, for allegedly duping nearly two dozens of investors of Rs 3 crore.
One Shubhranshu Shekhar Raut had lodged a complaint against him.
The complainant had alleged that Sahu had asked 22 persons to invest in his potato and seafood trading/prawn businesses and collected about Rs.2.5 crores by promising them high returns and dividends.
Raut claimed he had invested Rs 66 lakh in Sahu’s firm in Bhubaneswar between March 2017 and March 2018.
“To gain the trust of the investors, the accused had prepared fake/forged agreements and falsely assured the depositors of high returns. After misappropriating the money, the accused started avoiding the depositors and went underground,” EOW said in a release.
Sahu, who hails from the Keonjhar district, was arrested from Bhubaneswar on Friday.
He has been booked under several sections of IPC pertaining to cheating, criminal breach of trust, fraud and criminal conspiracy along with Section 6 of the OPID Act, 2011 and remanded to judicial custody, it added.
Cuttack: A former Army officer from Odisha’s Cuttack has lost Rs one crore after being…
Mumbai: There’s good news for those who missed ‘Bhool Bhulaiyaa 3’ in theatres but want to…
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Wednesday launched 1,542 Multipurpose Primary Agriculture Cooperatives…
Panjim: Christmas turned tragic for a family from Maharashtra as a 54-year-man died after a tourist…
Bhubaneswar: At least seven districts of Odisha are likely to experience zone or two intense…
Mumbai: It was a fun-filled and loved-up Christmas for Kriti Sanon. The Bollywood actress took…
This website uses cookies.