Debi Prasad Praharaj of Nimiketa village under Balugaon police station area in Khurda district was arrested, said inspector in charge, Sorada police station S K Jena.
The Police also seized six passbooks of different banks, cheque books, several fake documents, including call letters for jobs from him during the raids, he said.
Praharaj was identified as an employee of the state-owned Grid Corporation, police sources said.
At least five victims from Sorada, Patapur, Belaguntha and Aska had lodged complaints agaist Praharaj in different police stations in the district.
"We are also investigating the persons duped by him and the exact amount collected from the people," the Police added.