Rayagada: An employee of a private finance company here was arrested for masterminding a loot of Rs 24 lakh from his possession.
According to police, the employee of the finance firm near Tumbiguda Chhak, Anil Gardia was going to deposit Rs 24 lakh in cash in a branch of State Bank of India on Tuesday last.
When he reached near FCI Chhak, two persons came on a bike and snatched the bag containing the cash at knife-point, Gardia stated in a complaint filed at the local police station.
Rayagada SP Sarbana Vivek said following the complaint, police started investigation. During questioning, Gardia confessed to have hatched a conspiracy to loot the money along with four others.
Gardia has been arrested and the four accomplices nabbed by the police, the SP said.