The Economic Offences Wing (EOW) of the State Crime Branch arrested chit fund company Tresty Securities ltd Director Hariarjun Panda from Bhadrak.
The investigating agency had nabbed the firm’s Managing Director Dayanidhi Mohapatra from Nashik in Maharashtra four days ago.
The chit fund company has duped depositors of over `10 crore in the State.
During interrogation Mohapatra informed about Hariarjun Panda to the investigating sleuths. Acting on the information, the EOW nabbed Panda from Bhadrak on Tuesday afternoon.
Besides, the EOW team also raided four places in the district and seized two cars in the name of the company.
The company had duped depositors by opening branches in Baleswar, Soro, Bhadrak and Betanati areas and collected money from investors under different schemes promising lucrative returns.
The company authorities had closed its offices in 2013 and disappeared with the collected amount.