An official of a Ponzi firm was today arrested by sleuths of Central Bureau of Investigation on charges of collecting money from the people under different illegal financial schemes, a CBI official said.
The CBI today arrested Zodiac Foundation's Dandapani Sethi, who was absconding ever since people lodged complaints against him, from Phulbani in Kandhamal district today, a CBI spokesman said.
"A case was registered against him and Zodiac Foundation under section 420 of IPC and section 3,4 and 6 of Prize Chit and Money Circulation Scheme (Banning) Act, 1978," the official said.
The Ponzi firm has been accused of collecting crores of rupees from the public.
Earlier last year, a local court in Mayurbhanj district had convicted two functionaries of Zodiac Foundation after finding them guilty of duping people in the name of "multiplying" their deposits.
