A youth leader of the Bharatiya Janata Party (BJP) was arrested from Boudh district on Sunday for allegedly collecting money from investors promising them high returns.
Bharatiya Janata Yuva Morcha (BJYM) Boudh president Narayan Karmi was arrested by the Manamunda police, sources said.
Karmi allegedly collected money from investors assuring them to double their invested money in three years through a dubious company, Go life Trading Pvt ltd, through high-return schemes from gullible investors.
He could neither pay the promised doubled amount nor the invested money to the investors.
This instance has been reported at a time when most of the top executives of chit fund firms operating in the State have been arrested and prosecuted for duping investors.