The Economic Offences Wing (EOW) of Crime Branch of Odisha Police today arrested Brajasundar Mishra, director of a chit fund firm, on charges of cheating depositors of about Rs 10 crore.
The Crime Branch DIG Sanjay Kumar Singh told media persons that the EOW would seek a seven-day remand of Mishra when he would be produced in a local court tomorrow.
Mishra allegedly lured investors with attractive schemes to provide land and plot at cheaper rates. The firm Land India Real Estate was collecting money from depositors through its offices in Polasara in Ganjam district.
Accused of cheating the investors, Mishra was on the run since 2013 after depositors demanded their money back from the company. The people made complaint with the police after they failed to get any plot or land as promised.
