Bhubaneswar: The Economic Offences Wing (EOW) in Bhubaneswar Friday arrested a man for alleged fraud to the tune of Rs 3 crore.
The accused has been identified as Bishnu Prasad Sahu. He 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 OPID Act, 2011, an EOW official informed.
The presiding officer of a designated court under OPID Act in Cuttack remanded him to judicial custody after he was forwarded to the court Saturday.
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According to sources, a case was registered based on an FIR lodged by Shubhranshu Shekhar Raut.
The accused had allegedly asked 22 persons to invest with his ongoing potato business and seafood trading (prawn business) and had collected a total sum of 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