The Crime Branch’s Economic Offences Wing (EOW) has arrested private firm Sahil Enterprises proprietor Bishnu Prasad Sahu for cheating investors of Rs 3 crore on the pretext of returning high returns against investment in his company.
Sahu was arrested on Friday based on a complaint filed by one Shubhranshu Shekhar Raut, who has accused Sahu of duping him and other persons.The complainant alleged that Sahu had asked 22 persons to invest in his potato and seafood trading businesses and collected about Rs 2.5 crore by promising them high returns and dividends.
The complainant claimed that he had invested Rs 66 lakh during the period from March 2017 to March 2018 which was deposited at Sahu’s firm in Bhubaneswar. The accused hails from Keonjhar district. Apart from the complainant, the accused had also collected nearly Rs 2.5 crore from 21 other people, the police said. “To gain the trust of the investors, the accused had prepared forged agreements and falsely assured the depositors high returns.
After misappropriating the money, the accused started avoiding the depositors and went underground. Following the registration of the case, the movement of the accused was put under surveillance and he was arrested from Bhubaneswar,” the EOW said.
Sahu has been booked under several IPC Sections pertaining to cheating, criminal breach of trust, fraud and criminal conspiracy along with Section 6 of the OPID Act, 2011. He has been remanded to judicial custody by a designated court in Cuttack,